JRG acquires 2-wheeler functional plastics division of Stanley Engineered Fastening India

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New Delhi, Feb 3 (PTI) Auto components maker JRG Automotive Industries Pvt Ltd on Monday said it has acquired the two-wheeler functional plastics division of Stanley Engineered Fastening India for an undisclosed sum.

This division specialises in production and supply of plastic injection moulded components for prominent two-wheeler OEMs (original equipment manufacturers), construction equipment manufacturers, and Tier-1 two-wheeler suppliers across India, JRG Automotive Industries said in a statement.

The acquisition includes two fully operational manufacturing units, one in Manesar (Haryana) and the other in Bengaluru, further enhancing JRG's manufacturing capabilities and geographical reach, it added.

"With this acquisition, we are establishing a strong foothold in South India, particularly in Bengaluru, solidifying JRG's presence across all three major automotive hubs in India. Furthermore, adding infra equipment manufacturers as a customer strengthens our entry into the infra equipment manufacturing segment, expanding our market reach," JRG Automotive Industries, Founder & Managing Director Pawan Goyal said.

JRG Automotive is into manufacturing of plastic components for the automotive sector with a growing presence in the defence industry.

On the other hand, Stanley Engineered Fastening India (SEFI), a subsidiary of the US-based Stanley Black & Decker, Inc., is into engineered fastening solutions serving aerospace, automotive and industrial segments.

SEFI will continue to manufacture and strengthen its core engineered metals and plastics fastening solutions at Chennai and Bengaluru factories, it added. PTI RKL SHW