Raymond's auto component arm buys Trinity India

Moneycontrol Bureau

Ring Plus Aqua, the auto component arm of apparel maker Raymond, has acquired Pune-based forged component maker Trinity India for an undisclosed sum. Raymond said the share transfer agreement with Trinity's promoters was signed on Thursday and the deal was funded via internal accruals. "The acquisition of Trinity India is a significant milestone for Ring Plus Aqua as it marks our entry into forged components. This move significantly strengthens the company's position in the global automotive power train domain. With this acquisition, we are looking at an added revenue of Rs 80 crore in the current financial year," said Harshal Jayavant, president