Endurance Technologies acquires an Italian and German company

Mumbai, Feb 15 (UNI) In an ambitious bid to strengthen their presence in the lucrative US and European auto sector markets, Endurance Technologies pvt ltd today announced the acquisition of two Aluminium Die casting facilities, the Italian-based Nuova Renopress and German-based Amann Druckguss.

The company has also invested a stake in Front Fork manufacturing company, Paioli Meccanica, which whom it already has a technical collaboration. The total value of these overseas investments amounts to Rs 46 million Euros.

''The focus of our company being 'Total Production Maintainance' (TPM), we are continuously striving to improve our productivity and be a cost and quality leader. We are looking at leveraging the elite customer base of our overseas subsidiaries with our low cost high quality manufacturing base in India. With the two acquisitions, we are now direct or indirect suppliers to the major auto Original Equipment Manufacturers (OEM) in Europe,'' the MD of Endurance Group, Mr Anurang Jain told reporters here today.

The company, which began in 1985 as a small foundry operation with a turnover of just Rs 36 lakhs, is today a Rs 1500 crore business in the field of Auto components comprising mainly of two streams, Aluminium Die casting products and Proprietary products consisting of suspension, braking and transmission systems.

''Having set in motion the process of synergising the operations of the acquired overseas companies with their own, Endurance is also looking at further opportunities in Europe, both in Aluminium Die Casting and its proprietary product areas,'' Mr Jain disclosed.

One of the acquired entities, the Italian-based Nuova Renopress, has been engaged in manufacturing Aluminium Die Cast components and boasts of an impressive customer profile including the likes of Honda, Bosh and Siemens. On the technological front, it is specialised in complex multi cavity castings and has substantially automated its various process.

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