By Liz White, UT staff
Winterthur, Switzerland-Rieter has acquired 100 percent interest in the Indian automotive supplier Rieter Automotive India (formerly Unikeller India Private Ltd.)
The Swiss supplier of automotive acoustic and thermal insulation systems previously held a 35 percent stake in Unikeller India, a supplier of damping products.
"This acquisition gives Rieter better access to the fast growing Indian automotive market," said a 27 April statement from the company. Rieter wants to increase its capacity in India and plans also to extend the product range to heatshields and also to make Rieter's full product offering of acoustic components.
Rieter Automotive India's plant in Behror, Rajasthan, about 130 km from Delhi, serves more than a third of the Indian automotive market, the group said. The company has about 80 employees and supplies customers such as Maruti Suzuki, Mahindra, Fiat India, GM India and others.
Rieter Group is a global supplier of systems solutions for the textile and automotive industries. In 2005, Rieter generated sales of SwFr 3160 million with some 14 600 employees worldwide. Sales for Rieter's Automotive Systems Division were SwFr 2036 million, while the Textile Systems Division accounted for SwFr 1109 million.