Sakthi Auto (SACL) has acquired European subsidiary of Intermet International, a FortWorth Texas based company. This acquisition will add 1.65 lakh tonnes to its annual capacity of 60,000 tonnes of precision casting of ductile Iron for Automotive applications. It also adds 1700 people from two factories in Germany and one in Portugal. As Intermet Europe’s U.S. based parent company did not wish Sakthi to use their brand, Shakthi Auto will promote its own brand in the European market. The combined entity will be known as Sakthi Automotive Group and will be headquartered at Saarbrucken in Germany.
What this means to Coimbatoreans other than the pride that this mega deal of $130 million. Well , Not Sure….