The Hindu Business Line : INCAT buys German co CEDIS

INCAT has acquired CEDIS Mechanical Engineering GmbH, a German-based provider of automotive engineering and design services. The move follows INCAT's own acquisition in August 2005 by Tata Technologies Ltd (TTL), the 94.3 per cent subsidiary of Tata Motors. Today's BSE notice on the CEDIS deal did not disclose the price involved. The acquisition of UK-based INCAT had cost Rs 416 crore.

While INCAT's customers span DaimlerChrysler, Ford, Lotus, Grumman, Honda, Magna, Steyr and Boeing, those of CEDIS include Johnson Controls, DaimlerChrysler, MAHLE, Modine Europe, Eberspacher, ORIS, Lear Corporation, Mercedes AMG, Alpine Electronics and BOS, among others.

"This expands the presence of INCAT in Germany and in Europe overall, with proven competencies in engineering and design, as well as in CATIA support.

Further, this acquisition as well as the company's 2005 acquisition of Rand France SA diversify the INCAT client base and position INCAT to widen its PLM consulting and support services offerings," Mr Wolfgang Zoefgen, INCAT's Managing Director for European Operations, was quoted as saying in the notice to the bourse.

The CEDIS executive team — Mr Markus Schleer and Mr Ralf Weber — will join INCAT's European operations in senior management positions. "Mr Schleer will continue to serve as CEDIS Managing Director and will become INCAT GmbH Head of Design Services. Mr Weber will join the INCAT GmbH management team," it said.

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