Sintex acquires Bright Brothers at Rs 1.49 bn

Mumbai, Sep 5 (UNI) Sintex Industries acquired the automotive products business of Bright Brothers at Rs 1.49 bn in an all cash transaction.

Bright Brothers is a leading manufacturer of automotive injection moulded plastic in India.

The Company has five strategically located manufacturing facilities in close proximity to all automobile production hubs that manufacture a range of exterior and interior systems.

The Company's client base includes, Maruti, Hyundai, Tata, M&M etc.

Commenting on the acquisition, Sintex Industries Managing Director Amit Patel said, ''This acquisition represents a significant step as we are establishing a strong presence in the domestic plastic auto component market.'' This transaction follows the recent USD 20.5 mn acquisition by Sintex of Wausaukee Composites, USA, a manufacturer of highly engineered composite plastic components.

UNI