Ruia Group acquires 60% of Henniges Automotive

ERJ staff report (RD)

Kolkata, India - The Ruia Group, which has controlling stakes in Dunlop India and Falcon Tyres Ltd., has acquired a 60 percent stake in German automotive sealing systems supplier Henniges Automotive Grefrath, Ruia Group chairman Pawan K Ruia confirmed in a 16 Dec telephone conversation with European Rubber Journal.

Mr. Ruia said Henniges will now be renamed Draftex with Henniges director Juergen Hein owning 15 percent of the newly formed company and administrator Wolf Von Der Fecht owning the remaining 25 percent. Mr. Ruia pointed out that the group will have the option to acquire the 25 percent from the administrator in three years time and Juergen Hein's 15 percent in five years time.

Commenting on the company's activities in the sealing systems market, Mr. Ruia said the group already owns a company in Leicestershire, UK [Schlegel Automotive Europe] which employs around 500 people and has turnover of around Euro 50 million. Schlegel, Mr.Ruia said, supplies 3 major German OEMs -- Daimler, BMW and VW Golf. "We are trying to make our position better in sealing systems," Mr. Ruia said, adding that the company is looking at other options in the sealing systems market.

Henniges had previously gone into receivership in 2008 because of financial difficulties during the economic crisis. The company supplies automotive sealing systems to major global car manufacturers including BMW, Volkswagen and Daimler.

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Links to press reports in News & Media section of Ruia Group's website