KOLKATA: THE Ruia Group has expanded its global presence with the acquisition of Gumasol-Werke Dr. Mayer GmbH & Co. KG of Germany.
Announcing the takeover Pawan K Ruia, Chairman of the Ruia Group said here on Thursday that their global growth strategy aims at acquisition of business enterprises, brands and state-of-the-art technology platforms across the world.
“Despite setting up high standards in every aspects of its operation, Gumasol-Werke has been facing some difficulty because of the European impact of the economic meltdown. We are committed to take Gumasol to new heights,” Ruia said.
Established in 1946 Gumasol-Werke Dr. Mayer GmbH & Co. KG is regarded as a leading manufacturer of solid resilient tyres, rubber components and rubber to metal components in Germany. Applications of the tyres include industrial trailers, roll trailers, forklift trucks, sewage plants, barking plants etc.
Germany-based Gumasol Rubber Tec, a special purpose vehicle floated by the Ruia Group has acquired the assets of the company on August 1, 2010. As a result the Gumasol plant will remain operational and all its 106 employees will be retained.
Gumasol is the third European acquisition of Ruia Group in the automotive sector. The first two, UK-based Schlegel Automotive Europe Limited and Germany-based Draftex Automotive GmbH, are engaged in manufacturing automotive sealing systems and have Ford, Toyota, Nissan, Honda, BMW, Daimler, Audi and Volkswagon in their client portfolio.: Ruia Group Chairman Pawan K Ruia is announcing the take over of Gumasol-Werke Dr. Mayer GmbH & Co. KG.