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.

 


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

By Satnam Singh
Correspondent

Published: May 24, 2013 2:15 pm ET

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