Good News : Aurangabad-based Dhoot Transmission to buy Scottish firm TFC Cable


Aurangabad-based Dhoot Transmission to buy Scottish firm TFC Cable

Aurangabad-based auto electric component maker, Dhoot Transmission has agreed to acquire 100 percent stake in TFC Cables Assemblies Ltd, Scotland for an undisclosed sum.  The transaction, which would be the third by the Indian firm, will help the company to expand its presence in Europe and get access to key auto component markets in Western Europe.  The deal is expected to get announced as early as Thursday. Mumbai-based investment bank, Singhi Advisors was the sole advisor to the deal.  

Set up in 1999, Dhoot Transmission is one of the top electrical equipment companies, supplying products to automotive and industrial sectors in India and Europe. It has grown from being a single unit in 1999 at Aurangabad to a multi-locational, multi-country business entity, with 13 units across Pune, Aurangabad, Chennai, Manesar, Pithampur, UK and Slovakia. The company counts Volvo, Piaggio, Honda, Bajaj Auto, Royal Enfield, Suzuki, and CNH among its top clients and has reported a revenue of Rs 600 crore in FY17.  Founded in 1971 in Scotland, TFC has units in Scotland and Slovakia and services products such as analytical instruments, work access platforms, heating, ventilation and control equipment for the auto industry.


source : 
http://economictimes.indiatimes.com/industry/energy/power/aurangabad-based-dhoot-transmission-to-buy-scottish-firm-tfc-cable/articleshow/59254144.cms

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