Sintex Industries, through its wholly owned subsidiary -- Sintex NP SAS -- has acquired 100 per cent equity stake in France-based Groupe Simonin, a manufacturer of metal and plastic sub-assemblies and technical components, for a cash consideration of Euro 18 million
The acquisition will help the company to expand its products portfolio of metal parts like moulded products and move up the supplier value chain. Also, the deal will help integrate French and Indian plants to offer products and services with bouquet of manufacturing footprint across with wide variety of technologies and capabilities with differential cost basis.
Founded in 1926, the SIMONIN group is a French industrial company with a strong reputation in its key sectors. It specializes in the conception and manufacturing of technical parts such as springs, wire parts, precision stamping of metal parts etc, while, Sintex Industries is the world largest producer of plastic water tank. It manufactures a wide range of plastic products including prefabricated structures, industrial custom molding products, monolithic constructions and water storage tanks.
