Sintex Ind arm acquires US-based Nero Plastics

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Sintex Ind arm acquires US-based Nero Plastics

Sintex Ind arm has acquired US-based Nero Plastics. LM Rathod, CFO of Sintex Industries informs that the company is a premiere manufacturer of highly engineered structured plastic products and a supplier to various OEMs worldwide

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Sintex Ind arm has acquired US-based Nero Plastics. LM Rathod , CFO of  Sintex Industries informs that the company is a premiere manufacturer of highly engineered structured plastic products and a supplier to various OEMs worldwide.

Excerpts from the exclusive interview with LM Rathod:

Q: Could you take us through details of what Nero Plastics does?

A: Wausaukee Composites had acquired Nero Plastic Inc. It is a strategic acquisition and it's a premiere manufacturer of  highly engineered structured plastic products and a supplier to various OEMs worldwide.

Q: What is the cost of acquisition?

A: The cost of acquisition is about USD 4,7 million

Q: What did Nero Plastics do in terms of sales last year?

A: In 2006, they have done a business of USD 18 million. Nero Plastic is a custom molder of low and medium volume structure plastic and composite components.

Q: Is it a profitable company at the EBITDA level?

A: Yes it's a profitable company at the EBITDA level.