Delhi: Auto component maker, Ashok Minda Group,
is close to acquiring a 51% stake in Australian company
NTS Global, in a deal that maybe worth up to Rs70 crore
($17.14mn), according to a report filed by The Economic
Times. After the acquisition the company will be renamed,
Minda NTS (MNTS).
Global specialises in design and manufacture of high
quality precision tooling for the automotive, aerospace
and defence sectors and supplies to auto makers like
GM, Toyota, Mitsubishi and Ford. NTS Tooling Solutions
specialises in the design, manufacture, modification
and maintenance of high precision plastic injection
Minda Group is involved in the manufacture of electronic
and mechanical security systems, keys, instrument panels
and clusters, connective systems and die-casting parts.
to the report, post-acquisition, MNTS will set up a
Greenfield unit in India catering to its tooling operations
and another Greenfield unit in Germany. MNTS will serve
Minda's in-house tooling requirements. Besides this
the company will also service other original equipment
Minda group is composed of 10 companies manufacturing
various components. According to industry sources, Minda
intends to consolidate its operations into a single
holding company, which in turn will help the Group to
raise money through a public offering.
This will also be Minda's third
acquisition in the last 18 months, and will follow the
acquisition of a controlling stake in Valeo of France
and in KTSN, a plastic injection company in Germany.
Minda has also established joint ventures with Stoneridge,
USA; Silca, Italy & Kaba, Switzerland.
Ashok Minda Group is growing at a CAGR (Compound Annual
Growth Rate) of over 40%. The Group has also reported
a turnover of approximately $200 million.