India’s Windsor Machines acquires Italy’s Italtech

Ahmedabad-based machine maker Windsor Machines has acquired Italian injection moulding machine maker Italtech through a joint venture Wintech, set up in the Netherlands, for an undisclosed amount. Wintech will hold 80% of Italtech, with the remainder owned by Geoplast, an Italian plastics processor and a sister company of Italtech.

Italtech manufactures dual-platen injection moulding machines for the production of large components for the automotive market. The acquisition also gives Windsor a foothold in the European automotive components market since Italtech was owned by Italy-based car maker Fiat until 2004. Prior to the acquisition, Windsor and Italtech had a transfer technology collaboration in an agreement signed three years ago.

Windsor Machines was set up in 1964 under a collaboration with RH Windsor of the UK. In 1984, it became a part of worldwide operations of Klockner-Werke, Germany, and was renamed as Klockner Windsor India. It was acquired by Dilip Piramal (of VIP Group) in 1994 and later renamed as DGP Windsor India and thereafter in 2005, known as Windsor Machines. In 2008, the firm was bought over by Prakash Kundalia. He turned the company around from a loss making firm to one with 100% growth in 2010. Beside injection moulding machines, Windsor also makes blown film and pipe extrusion lines as well as blow moulding machines.

(IMA)

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