Financial Daily from THE HINDU group of publications
Saturday, May 21, 2005
Financial Daily from THE HINDU group of publications Saturday, May 21, 2005 |
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Corporate
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Mergers & Acquisitions Eicher group plans to acquire US-based engg solutions firm Neha Kaushik
New Delhi , May 20 IN a bid to grow its engineering solutions business, the Eicher group is planning to acquire a USA-based firm that is engaged in the business of providing computer-aided engineering and design services. According to industry analysts, the acquisition would help to expand the operations of Eicher Engineering Solutions (EES), the engineering solutions/design wing of the Eicher group. EES at present provides engineering solutions to automotive, aerospace, heavy engineering, consumer durables, power generation and other segments, as well as services in the area of CAD, CAM, CAE, and PDM. According to industry watchers, EES has been offering services to both international and domestic companies, who want to get their engineering services outsourced. EES has also developed indigenous manufacturing capability in segments such as commercial vehicle, tractor, and motorcycle segments. Meanwhile, Eicher Motors is also likely to finalise the proposed sell-off of its tractors, gears and engine business consisting of its units at Mandideep, Parwanoo and Alwar to Tractors and Farm Equipment Ltd (TAFE) next week. The transaction is expected to fetch Eicher Motors anywhere between Rs 300 crore and Rs 350 crore. The acquisition, if it goes through, would enable TAFE to further consolidate its position as the second largest tractor maker in the country. It would also give TAFE a toehold in some of the North and central States such as Uttar Pradesh, Haryana and Madhya Pradesh with the Eicher brand. Further, the company would gain presence in the lower horsepower tractors segment.
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