Caparo Group Takes Over Sheet Metal Firm

Tuesday, January 23, 2007

The Caparo group has completed the formalities for takeover of the sheet metal business of International Auto Ltd (IAL). IAL has a combined capacity of 16,000 tonnes of sheet metal at their Pune and Jamshedpur units. It employs 300 people and has an annual turnover of Rs.72 crore.

International Auto is a major supplier of automotive parts to Tata Motors, and this acquisition will strengthen Caparo’s own auto components business. Caparo Engineering India Private Ltd. is a major supplier to the automotive industry in India. Stampings and fastenings are its core products, manufactured at Pithampur in Madhya Pradesh and Greater Noida. Capacities at these world class facilities will be expanded soon and a Research and Development centre is also on the anvil.

Caparo Engineering also has a joint venture with Maruti Udyog Ltd.for the manufacture of body panels for the automobile market. It operates from sites in Gurgaon, Halol and Bawal.

The Caparo group, founded by NRI industrialist Lord Swaraj Paul, is augmenting its current manufacturing facilities in India. Headed by Chief Executive Angad Paul, the company’s turnover currently stands at $1.5 billion. The company has business interests in India, North America, the UK and Europe, employing over 4200 people.

Photo: Hyderabad Streets 2005 View by melgupta, licensed under CC BY-SA 2.0, via Wikimedia Commons.