Pune-based Autoline Industries has acquired a 51% stake in Stokota, a Belgian special purpose vehicles maker, for Rs. 66.8 crores. Autoline is already contract manufacturing Stokota’s tippers, dumpers and tankers in India. It will fund the deal through a mix of internal accruals, debt and equity.
Autoline will provide 80% of the components to Stokota’s European operations based in Poland and will continue to assemble vehicles for the Indian, Middle Eastern and North African markets. Stokota also has a manufacturing facility in China, which caters to Australia, US and South-East Asia.
Stokota’s current customer base includes Volvo, Scania, MAN, Iveco, Renault, DAF, FAW and Deng Fong. It is the largest manufacturer of aluminium tankers in Europe. Post-merger, Stokota’s operations are expected to contribute Rs. 250 crores to Autoline’s consolidated revenue and Rs. 11 crores to its profit. Autoline, which recently listed on the bourses, expects to end the year with revenues of Rs. 210 crores and a profit after tax of Rs. 16 crores. Autoline has a tool design and manufacturing facility in Pune and is focused on sheet metal assemblies for automobile industry.
Read The Economic Times article.
Subscribe to:
Post Comments (Atom)
No comments:
Post a Comment