Plastic extrusions maker Kabra Extrusiontechnik has is acquiring 15% stake in US-based Gloucester Engineering Co. Inc (GEC) for around Rs 20 crore (USD 4.5 million). Majority owned by private equity firm Blue Wolf, GEC is into the business of equipment for the plastics extrusion and converting industry.
This strengthens the existing relationship between Kabra Extrusiontechnik and GEC. Formerly known as Battenfeld Gloucester Engineering Co that changed its name to GEC four years ago, it already owns 11.28% in Kabra Extrusiontechnik. GEC and the Kolsite Group (that promotes Kabra Extrusiontechnik) had established a joint venture, Kabra Gloucester Engineering. (KGE), in Daman in 2009. This was GEC
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