Uniproduct takes over Indian unit of Pelzer Group

Wednesday, 05 February 2003, 20:30 IST
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Leading automobile components manufacturer Uniproducts (India) Ltd. has completed the acquisition of German Pelzer Group's Indian subsidiary.

NEW DELHI: "This friendly takeover of HP Pelzer India Ltd (HPI) will bring about greater synergy and economies of scale for both the companies," said Uniproducts managing director Ashwan Kapur in a statement here Tuesday. With a unit at Rewari in Haryana, Uniproducts is the largest manufacturer of interior trims and insulating components. The company is expecting a 425 million turnover this fiscal and a 25 percent growth in the 2003-04 fiscal following the acquisition of HPI. The take over will provide Uniproducts another manufacturing unit in suburban Noida, on the outskirts of New Delhi, and a ready customer base of the German company. HPI specialises in making foam based noise-vibration-harshness (NVH) products for insulation. The addition of 125 products from HPI portfolio will considerably enhance Uniproducts range. "The acquisition will bring about substantial savings in costs in the end products, which we expect to pass to customers in the coming years," said Kapur.
Source: IANS