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The Sintex Group’s wholly-owned subsidiary Sintex NP SAS France, based out of Lyon, on Friday announced the acquisition of Simonin Group for 18 million euros.
It involves 100% equity value in an all-cash deal, the company said in a statement here.
Founded in 1926, Simonin is a French industrial company, headquartered in Beure in the Doubs Department, manufacturing a range of technical parts. Employing over 500 people, its turnover in 2013 was 48 million euros, up 10% and EBITDA of 8%.
The deal allows reinforcing in subcontracting offer in mechatronic products mainly to old customers of both the groups for the European market.
It is expected to enhance product portfolio as custom moulding business of Sintex Group will get a boost with Simonin’s product basket to meet demands of Fortune 500 companies as a one-stop shop.
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