Effective 01.06.2009 Gala Precision Technology Pvt Ltd (“Gala Precision”), a
leading manufacturer of precision components and equipments has sold its
compressor valves business to HOERBIGER Compression Technology, a strategic
business unit of HOERBIGER Holding AG, Zug, Switzerland in a share deal. Gala
Precision has decided to divest the compressor valves business with a view to
focus more on the market segments of Energy and Infrastructure, which are the
key customer segments of its disc springs and finishing systems businesses. This
divestment will also enable the company to focus on larger niche markets in
emerging segments.
Gala Precision was set up in 1989. India Value Fund, one of the leading private
equity investors, invested in 2005 to fund the company’s expansion plans in wada
near Mumbai and in Shanghai, China. The Company also has an office in Frankfurt,
Germany. Gala Precision has been supplying critical components to leading global
OEMs in Europe and Asia and is highly reputed for its quality and finish. Its
compressor valves division has grown 2.5 times in last 3 years & is market
leader in India with strong presence in China & Europe.
Mr. Kirit Gala, Managing Director believes there is an opportunity to create
value by building cost-effective manufacturing in Asia for fast growing Asian
markets with European brands. Gala Precision is looking at adding businesses of
high precision assemblies and equipments through acquisition of mid size company
in Europe. It will consider profitable companies with cutting-edge technology
that have no presence in Asia.
About Gala
Gala precision is a medium sized, fast growing precision components & equipments manufacturer supplying to all leading OEMs across Europe and Asia. Gala Precision is founded and owned 60% by the Gala family. India Value Fund holds nearly 40% of the equity. 40% of Gala Precision’s revenues are contributed by the energy and infrastructure sectors, 30% from General engineering with automotive sector contributing to the remaining 30%. Exports contribute to 50% of its total revenues of Rs. 90 crores.
About HOERBIGER
HOERBIGER Compression Technology is a Strategic Business Unit of HOERBIGER Holding AG in Zug, Switzerland. HOERBIGER is active throughout the world as a leading player in the fields of compression technology, automation technology and drive technology. 6,400 employees have achieved sales of around 1 billion Euros. The focal points of its business activities with long-term benefit for the customer include key components and services for compressors, gas-powered engines, and turbomachinery, hydraulic systems and piezo technology for vehicles and machine tools, as well as components and systems for shift and clutch operations in vehicle drive trains of all kinds. Through innovations in attractive technological niche markets, the HOERBIGER Group sets standards and creates high-quality unique selling propositions.
HOERBIGER will continue to operate the compressor valve business and the production site of Gala in Wada, India, as an independent entity in the Strategic Business Unit Compression Technology under the direction of the Business Division Serial Compressors. The technology, the development know-how, and the global strategic positioning of HOERBIGER Compression Technology as well as the strengths of Gala as a quality and cost-conscious manufacturer ideally complement each other.
HOERBIGER will add substantial value to Gala business & employees because of its extensive global presence, technology and R & D capabilities.
More Information please contact
Mr.Balkishan Jalan
Chief Financial Officer
E-mail : balkishan.jalan@galagroup.com
www.galagroup.com
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