Windsor eyes global growth, Indian auto market, with Italtech acquisition

By Satnam Singh
Correspondent

Published: May 24, 2013 2:15 pm ET

Related to this story

Topics Mergers & Acquisitions, Machinery

AHEMEDABAD, INDIA — India’s largest plastics processing machinery maker, Windsor Machines Ltd., is acquiring a majority stake in Italian injection press maker Italtech SpA.

“We have been working closely with Italtech for quite some time and finally it culminated into this acquisition,” said T.S. Rajan, chief operating officer of Ahmedabad-based Windsor.

He declined to disclose terms of the deal, which Windsor’s Dutch subsidiary, Wintech BV, completed in April.

Wintech will own 80 percent of Italtech, with the remainder owned by Geoplast SpA, an Italian plastics processor and a sister company to Italtech.

The deal will give Windsor a foothold in the automotive sector — Italtech was owned by Italian carmaker Fiat Group until 2004.

“With most of the global auto giants entering into the Indian market, this acquisition would give Windsor a platform to gain a strong foothold into this segment,” Rajan said. “This acquisition also gives Windsor a base in Europe and will help in expanding our exports into the European market.”

He said the deal also will grow the size and range of Windsor’s machinery offerings. Italtech makes large-tonnage two-platen machines ranging from 800-8,000 tons of clamping force.

“We will now be able to offer a complete range of products ranging from 50-8,000 tons,” Rajan said. “We also plan to offer two-platen machines with the most advanced technology from our partner at competitive prices.

“We have set quite ambitious growth plans for Windsor in the next two to three years, growing organically and inorganically,” he added.

Windsor and Brescia, Italy-based Italtech were already business partners prior to the acquisition; Windsor had signed a technology-transfer agreement with Italtech in 2010.

In addition to injection presses, Windsor also makes blown film and pipe extrusion lines, and blow molding machines. The company has plants in Chhatral and Vatva, in western India.

 


Comments

Windsor eyes global growth, Indian auto market, with Italtech acquisition

By Satnam Singh
Correspondent

Published: May 24, 2013 2:15 pm ET

Post Your Comments


Back to story


More stories

Unipex Group buys Ferguson Chemical Innovation

July 29, 2014 1:57 pm ET

Chemical distributor Unipex Group Inc. announced July 29 that it had purchased Ferguson Chemical Innovation, a Brampton, Ontario-based supplier of...    More

Image

Universal Polymer beefing up capabilities through acquisition

July 29, 2014 12:04 pm ET

Universal Polymer & Rubber Ltd. is growing again and adding to its capabilities, this time via another acquisition and a plant expansion.    More

Image

Reynolds considering sale of Closure Systems International unit

July 29, 2014 10:32 am ET

Packaging giant Reynolds Group Holdings Ltd. has put its closures business under review.    More

Image

Carbon black supplier Orion begins trading on NYSE

July 29, 2014 11:29 am ET

Orion Engineered Carbons S.a.r.l. has priced the initial public offering of 19.5 million common shares at a price to the public of $18 per share.    More

Image

Evonik sells polyimide foams operation to Boyd

July 29, 2014 10:46 am ET

Modesto, Calif.-based Boyd Corp., a manufacturers of specialty material and sealing agents, has purchased Evonik Industries’ Solimid...    More

Market Reports

Plastics Recyclers Data Report & Directory

This exclusive MS Excel database contains all the companies from Plastics News' ranking of top North American Recyclers and Brokers by reprocessed volume and also includes a directory with materials processes, services offered and company contact information. Data is based on primary research by PN editorial staff.

Learn more

2014 Injection Molding Industry Report

GROWTH, OPPORTUNITY IN SIGHT FOR INJECTION MOLDERS IN 2014

In the wake of the economic turbulence earlier in this decade, molders today find themselves in much better shape. Molders are gaining a competitive advantage by investing in people, equipment and seeking inroads into new markets on a global scale.

Growth in the injection molding industry is going to be driven by low financing costs and a continued move to reshore some business.

Learn more

Shale Gas Market - Analysis of North American Region

This report highlights the impact of shale-based natural gas on the North American plastics market and features an in-depth analysis of production trends in the United States during 2013 and a forecast for 2014 and beyond.

Learn more

Upcoming Plastics News Events

September 10, 2014 - September 12, 2014Plastics Caps & Closures 2014

January 14, 2015 - January 14, 2015Plastics in Automotive

February 4, 2015 - February 6, 2015Plastics News Executive Forum 2015

More Events