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Indian conglomerate Lohia acquires Israel's Light & Strong

Reuters  |  TEL AVIV 

(Reuters) - Indian conglomerate Group said on Tuesday it acquired Israel's Light & Strong Ltd, a maker of carbon fibre and glass fibre composite components for the and defence sector.

Financial details were not disclosed

The acquisition will allow Lohia, which is headquartered in Kanpur, India, to combine its engineering experience with new technologies to deliver high-quality products to its customers, said in a statement.

With the support of its operations in India, will seek to make a key export hub to American and European markets.

"We believe this marks the beginning of our growth in this sector on a global scale," Lohia said. "We will continue to look at other synergistic opportunities in this space towards our aim to be a key participant in the global defence and domain."

(Reporting by Tova Cohen)

(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)

First Published: Tue, February 12 2019. 14:39 IST