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Raymond snaps up auto component maker Trinity for Rs 54 cr

Premium textile major Raymond's auto components arm, Ring Plus Aqua, today acquired Pune-based Trinity India for Rs 54 crore. "We have picked up 78% in Trinity, for Rs 54 crore. We have bought out the entire promoters' stake and some large institutional investors," Raymond president (engineering division) Harshal Jayavant told PTI.

February 23, 2012 / 09:45 PM IST
 
 
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Premium textile major Raymond's auto components arm, Ring Plus Aqua, today acquired Pune-based Trinity India for Rs 54 crore. "We have picked up 78% in Trinity, for Rs 54 crore. We have bought out the entire promoters' stake and some large institutional investors," Raymond president (engineering division) Harshal Jayavant told PTI.


"The deal marks Ring Plus Aqua's entry into the forging industry, adding to its current portfolio of auto components which includes flywheel ring gears, flexplate assemblies,integral shaft bearings and sheet metal pulleys," he said. The company acquired majority stake in Trinity India with the signing of the share transfer agreement with the promoters of Trinity.


The deal was funded through internal accruals and facilitated by Equirus Capital. "The acquisition of Trinity 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 during the current financial year," Jayavant said.

Trinity has four manufacturing locations with an installed forging capacity of 12,500 tonne and supplies hubs, spindles, connecting rods and similar components to auto majors like Maruti, Tata Motors, Ford, Fiat, Bosch, Eaton, Dana among others. "Our expansion into forgings also provides us an opportunity to look at the fast developing non-auto sectors like power, aviation, defence and nuclear equipments," Jayavant said. The domestic forging industry is estimated to be about USD 3 billion, while globally it is valued at over USD 115 billion.

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