New Delhi, Jan 21 (UNI) Sona Group today said it has aquired German component giant ThyssenKrupp's precision forging business.
The company's head Surinder Kapur said, ''The group has got the approval from ThyssenKrupp on Friday and the acquisition will be completed by this month end.'' ThyssenKrupp is the second largest company for precision forging with 300 million euros in sales. The company has four plants with three in germany.
Sona Okegawa Precisions Forgings Ltd said last year that the comapny will invest Rs 100 crore in the next one year for capacity expansion. This includes Rs 20 crore investment at Farukhnagar plant, Haryana, that has been set up in collaboration with Mitsubishi Materials Corporation and another Rs 80 crore for a facility at Pune.
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