Ruia India acquires German automotive fasteners

Ruia Group of India announced on February 24 that the group had acquired Acument, a German automotive fastener supplier under the company of Haoming Global Technology, and the transaction amount has not been disclosed.

Ruia Group has carried out a series of acquisitions in Germany and Europe in the past three years. Previously, the group acquired Germany's automotive and parts suppliers Gumasol Rubber Technology Co., Ltd., Draftex Automotive Co., Ltd. and British auto parts supplier Schlegel Europe.

Acument has well-known brands such as Camcar, Flexalloy and Ring Screw. It is an excellent supplier of global mechanical fasteners. Its customers include Ford, Daimler, GM and Volkswagen.

Ruia India acquires auto parts manufacturer gumasol-werke

According to foreign reports, Ruia Group of India has recently acquired Gumasol-Werke, a tire and auto parts manufacturer in Germany.

IANS cited Pawan Kumar Ruia, president of Ruia, as saying: "This acquisition costs 25 million euros (about 33.11 million US dollars), including land, construction, machinery and equipment and reputation."

Ruia said that it will retain all 106 employees of Gumasol-Werke. In addition, Ruia is also seeking additional M&A projects in the automotive and infrastructure sectors, including Schlegel Automotive Components and Henniges Automotive Components.

The Indian News Asia quoted Ruia as saying: "Ruia has locked in several companies ready to acquire, including automotive, infrastructure and seals."