Financial Daily from THE HINDU group of publications
Thursday, Oct 14, 2004
Financial Daily from THE HINDU group of publications Thursday, Oct 14, 2004 |
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Corporate
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Mergers & Acquisitions Sona Koyo plans investment in French auto components firm Our Bureau
New Delhi , Oct. 13 THE trend of overseas acquisitions by domestic auto component majors has been accelerating in recent months, and the latest is components major Sona Koyo Steering Systems, which is considering investment in a France-based joint venture firm manufacturing auto components. Recent months have seen a number of Indian auto component firms buy firms in Europe. These include acquisitions by Amtek Auto, Bharat Forge and Sundram Fasteners. Sona Koyo is also planning to boost its international presence by way of opening a buying office in Thailand. This is in view of the opportunities that would arise following the free trade agreement (FTA) with Thailand. The Chairman and Managing Director, Dr Surinder Kapur, had earlier told Business Line that his company would study the possibility of sourcing smaller components from Thai companies if it proves to be cost-effective.
More Stories on : Mergers & Acquisitions | Automobile Components
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