Sakthi Automotive acquires Arvika Iron Foundry
Sakthi Automotive Group, has acquired Arvika Gjuteri AB, an iron foundry in Sweden. Sakthi already has five foundries in its stable, three in Europe & one each in Coimatore & Erode in India.
According to Sakthi Automotive, Arvika was engaged in the production of medium to large castings for the heavy duty trucks and off-road vehicles. Arvika's revenues were totalling Euros fourty three millions for the year closing on 31st March 07.
The Chairman of Sakthi sugars Mr Manickam Mahalingam daid that their company finds heavy duty vehicles & off road vehicles segment strategically important for the growth of the company in future.
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