 "Sintex acquires French component maker Simonin group")
Sintex NP SAS, the France-based wholly-owned subsidiary of plastic products maker Sintex Group, has acquired 100% stake in Simonin group for Euro 18 million. Headquartered in Beure (France), Simonin group specialises in the conception and manufacturing of technical parts such as springs, wire parts, precision stamping of metal parts, over moulding and metal/plastic functions, electronics, beams and assembly of sub-assemblies for industries ranging from automotive, electrical equipment and home automation.
The Simonin group employs 500 people spread over the sites of Beure, Saone and Saint-Vit (within the Besancon area), Miniac-Morvan and Mohammedia (Morocco). The company recorded a turnover of about Euro 48 million in 2013, up 10% and Ebitda at 8%.
The deal between Sintex and Simonin allows reinforcing the subcontracting offer in mechatronic products mainly to historical customer sectors of both groups for the entire European market.
“The custom moulding business of Sintex and its group companies will get a major boost with Simonin product basket of metal parts such as over moulded parts, etc to meet growing demand of Fortune 500 OEMs as a one stop and move up the supplier value chain,” Sintex said in a press release.
The acquisition will also help Sintex to integrate French and Indian plants to offer products and services with bouquet of manufacturing foot print across with wide variety of technologies and capabilities with differential cost basis.
Amit Patel, Managing Director, Sintex Group said, “The acquisition is strategic move towards consolidating our positioning in the European continent. The group value offerings will enhance significantly as metal parts with so critical industrial expertise is booster for our range of offerings. I strongly believe the acquisition entails horizontal integration for our businesses to emerge as a formidable player in global product portfolio.”
The Simonin group employs 500 people spread over the sites of Beure, Saone and Saint-Vit (within the Besancon area), Miniac-Morvan and Mohammedia (Morocco). The company recorded a turnover of about Euro 48 million in 2013, up 10% and Ebitda at 8%.
The deal between Sintex and Simonin allows reinforcing the subcontracting offer in mechatronic products mainly to historical customer sectors of both groups for the entire European market.
“The custom moulding business of Sintex and its group companies will get a major boost with Simonin product basket of metal parts such as over moulded parts, etc to meet growing demand of Fortune 500 OEMs as a one stop and move up the supplier value chain,” Sintex said in a press release.
The acquisition will also help Sintex to integrate French and Indian plants to offer products and services with bouquet of manufacturing foot print across with wide variety of technologies and capabilities with differential cost basis.
Amit Patel, Managing Director, Sintex Group said, “The acquisition is strategic move towards consolidating our positioning in the European continent. The group value offerings will enhance significantly as metal parts with so critical industrial expertise is booster for our range of offerings. I strongly believe the acquisition entails horizontal integration for our businesses to emerge as a formidable player in global product portfolio.”