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.
