04/27/2006 - Rieter raises its holding in Indian automotive partner to 100%
Winterthur – Rieter has acquired a 100% interest in the Indian automotive supplier Rieter Automotive India (formerly called Unikeller India Private Ltd. ). So far, Rieter has held a 35% interest in the Indian supplier of damping products. This acquisition gives Rieter better access to the fast growing Indian automotive market. Rieter wants to increase the production capacity in India and intends to extend the product range to heatshields and also to the full Rieter product offering with acoustic components.
Rieter Automotive India's production plant is situated in Behror, Rajasthan, about 130 kilometers from Delhi, serving efficiently more than one third of the Indian automotive market. Rieter Automotive India has some 80 employees and supplies today damping products to customers like Maruti Suzuki, Mahindra, Fiat India, GM India and others.
The Rieter Group, which operates on a global scale, develops and manufactures sophisticated systems solutions for the textile and automotive industries. In the 2005 financial year Rieter generated sales of 3'160 million CHF with some 14'600 employees worldwide. The Textile Systems Division accounted for 1'109 million CHF and the Automotive Systems Division for 2'036 million CHF.
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