Sintex Industries acquires US-based Wausaukee Composites Inc

Ahmedabad-based Sintex Industries Ltd has acquired the Wisconsin-based composites manufacturer Wausaukee Composites Inc. Sintex has acquired 81 per cent of the shareholding of the US company in the first tranche and will acquire the remaining subsequently. The acquisition was made by the Indian company''s step down subsidiary Sintex Holdings USA, Inc.

WCI has an established presence in the medical imaging, mass transit, industrial and agricultural equipment, wind energy, commercial furnishings, recreation and corrosion-resistant materials handling sectors. Composites is a huge and growing market globally as it offers better strength to weight ratio, non-corrosion, weather ability, design flexibility and moulding ability, are resistant to heat and chemicals and also offer electrical insulation properties.

Sintex believes that the acquisition would help it to expand its product portfolio as well as market penetration both in the Indian and overseas markets.