Ruia Group in discussion to buy Autoline Industries

Pawan Ruia's Group is in discussion to buy Pune based auto part manufacturer, Autoline Industries and the deal may be valuing the company at around Rs 250 crore. Autoline Industries has got a piece of land measuring 100 acre at Chakan in Maharashtra which has been put up for sale since a long time. It is still not clear whether the land will be a part of the deal with Ruia Group.

In FY11, Autoline Industries clocked a revenue of Rs 660 crore and the company's market cap is around Rs 160 crore. About 85% of the company's revenues come from their largest customer Tata Motors for which Autoline manufactures body products for commercial vehicles.

Autoline Industries is a manufacturer of pressed sheet metal automotive components and assemblies, and is engaged in design engineering for automotive original equipment manufacturers (OEMs) based in India, the US and Europe.

Ruia Group, owning Falcon, Jessop, Dunlop, has been aggressively buying auto component manufacturers overseas. Since 2008, the group has acquired six companies in the space.