Stanadyne buys out Amalgamations Gr from joint venture

US-based fuel injection systems maker Stanadyne today said it has completed buyout of its Indian partner Amalgamations Group's stake in their joint venture.
In a mutually agreed upon buyout, Stanadyne acquired the remaining 36 per cent equity in the joint venture, which was formed in 2001 to bring cleaner, more efficient diesel fuel systems and technologies to the Indian market, the company said in a statement.
The company, however, did not share financial details of the transaction.
Stanadyne operations and production will remain at the Chennai facility, under the management of Near East Managing Director, Sanjay Chadda, who earlier this year, announced a multi-year investment in the Chennai operations, it added.

With the change in ownership, the business in India, formally known as Stanadyne Amalgamations Pvt Ltd, will become Stanadyne India Pvt Ltd, the company said.
Stanadyne and Amalgamations Group plan to continue to work together as customers and suppliers to one another in order to continue serving India's diesel engine market, the statement added.
Stanadyne is currently focused on creating technology for engines under 50 HP, which account for 80 per cent of all off-road diesel engines in India.