COIMBATORE (India): Sakthi Automotive Group, a division of Sakthi Sugars Ltd, has acquired Arvika Gjuteri AB, an iron foundry in Sweden.
A release from the company said Arvika was focusing on the production of medium to large castings for the heavy duty truck and off-road vehicles.
For the year ended December 31, 2007, Arvika achieved sales to the tune of 43 million Euro.
Sakthi Automotive Group had three foundries in Europe and two in India, all specialising in castings for the automotive industry.
“Sakthi intends to continue to develop Arvika’s business and to invest in further productive capacity in the foundry and machining facility to meet the expected volume growth,” the release said.
“We have identified the heavy duty vehicle and off-road vehicles markets as strategically important to Sakthi,” its chairman Manickam Mahalingam, said.