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Company
Raymond is acquisition mode
Textiles
Raymond is acquisition mode
03 Feb '06
1 min read
Textile company Raymonds Ltd is planning to acquire some bankrupt units of US based automation major Delphi.
Company is in negotiations with Delphi management, Raymond Group has not revealed much about the acquisition.
Delphi, the struggling auto components company, has filed documents for Chapter 11 bankruptcy in October 2005.
If the acquisition is done successfully, it would be its first overseas purchase by an Indian company in the components segment.
To improve its components division, Raymonds recently acquired Ring Plus Aqua, an automotive manufacturer.
Acquisition of Ring Plus Aqua proved successful as in the last nine months, acquired company has recorded two-fold increase in profit before tax.
More Raymond Ltd News...
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