core sector communique

RUIA GLOBAL FASTENERS

Acument Germany is now Ruia Global Fasteners AG

Kolkata, 21 February 2011: The Ruia Group has acquired Germany’s Acument GmbH & Co KG, one of the leading manufacturers of automotive fasteners. This is an asset deal in which the Ruia Group has acquired four plants and a logistics centre of Acument GmbH & Co KG through Ruia Global Fasteners AG, a new company incorporated by the Ruia Group in Germany. With this acquisition, Acument GmbH & Co KG becomes Ruia Global Fasteners AG and the Ruia Group extends its global footprint in the auto ancillary segment.

This is the third acquisition for the Ruia Group in Germany, and the fourth in Europe in a span of three years.

Announcing the takeover Mr Pawan K Ruia, Chairman of the Ruia Group, said: ‘’This acquisition best exemplifies the tactical and measured approach into newer territory that will inevitably benefit the Indian market in technology enhancement. This acquisition also helps the Ruia Group in its journey toward emerging as a leading player in the Auto Ancillary segment, with the best OEMs on our client roll.’’

The Ruia Group has acquired four plants of Acument Germany – in Neuss (Head Quarter), Beckingen, Neuwied and Schorzberg – as well as its logistics centre in Koln. The full spectrum of the automotive fasteners – divided in 6 product categories – is manufactured in these plants. The total production area of the plants is a massive 1,30,000 sq m in its four plants,processing 55, 000 tonnes of metal to produce 3.2 billion parts per year for the world auto industry. In 2010  Acument Germany had a turnover of Euro 227 million.

Founded in 1843 by Mr. F Bosner, the outfit is recognized as the inventor of hexagonal screws. Today the company designs and manufactures a wide range of high precision fasteners used in engines, chassis, drive train, body exterior and interior. The products include long shafted bolts, hexagonal screws, nuts, forged parts, extrusion parts, cold-formed parts, thread rollers and ball pins.

Commenting on the occasion of handing over a symbolic key of  Acument Germany at Neuss, Mr Harry K Voigtsberger, Minister of Economic Affairs, North Rhine Westphalia (Germany), observed: ‘’I am glad that with the takeover by the Ruia Group, the future looks bright for the employees of the German plants of Acument. The insolvency successfully ends here and everybody should take this opportunity.’’

 

About Ruia Group

Led by its Chairman Mr Pawan K Ruia, Ruia Group is one of the fastest growing industry conglomerates in India. The company has two aide segments Infrastructure and Heavy Engineering, and Auto Ancillary, which includes Tyres.

The core capability of the Kolkata-based Rs 4500 crore Group lies in identifying growth opportunities and turn-around the ailing companies. Ruia Group has a workforce  of  about  11,300   highly skilled,  committed  and  qualified  professionals.

In India the Ruia Group controls Falcon  Tyres Ltd, Dunlop India Ltd, Jessop & Co Ltd and other companies, while in Germany the Group has Draftex Automotive GmbH and Gumasol Rubber Tec GmbH in its fold and in UK it runs Schlegel Automotive Europe Ltd.