AntolinA global provider of automotive interior technology solutions has closed a deal to sell three of its legal entities in India to the signature Shriram Pistons & Rings Ltd for an amount of 159 millones de eurosThis strategic operation, which will materialize in the coming weeks, responds to the company's priority objective of strengthening its financial position and increasing its liquidity within the framework of its divestment plan communicated to the market.
Economic details and impact of the operation
The agreement involves the transfer of a significant volume of business. The activities transferred to Shriram Pistons & Rings, a renowned Indian manufacturer of automotive components, represent an approximate annual turnover of 110 millones de eurosFurthermore, the operation involves the incorporation of more than 1.500 employees from the current staff to the structure of the purchasing company.
The business involved in the transaction is highly specialized in the manufacture of vehicle interior components. The production lines that will change ownership include:
- Roof cladding systems.
- Interior finishing pieces.
- Lighting systems.
The key figures for this corporate transaction are detailed below:
| Concept | Data / Figure |
|---|---|
| Transaction value | 159 millones de euros |
| Buyer | Shriram Pistons & Rings Ltd |
| Annual billing transferred | Approx. 110 million euros |
| Affected employees | More than 1.500 workers |
| Planned closure | Next weeks |
Technological continuity and presence in India
Despite the disinvestment in these production units, Antolin It is not abandoning the Indian market. Both companies have signed an agreement. long-term technology licensing agreementThe objective of this alliance is to guarantee a smooth supply to customers and ensure that quality standards are maintained. global level that characterizes the Spanish firm.
Regarding its operational footprint, Antolin will retain strategic assets in the region:
- Their offices in Pune y Hyderabad, which will continue to function as global development centers.
- Su a joint venture with Krishna Maruti Limited, which remains active.
Cristina Blanco, Executive Director of Antolin, has praised the operation, highlighting the company's roadmap: We are implementing a clear strategy: to improve our financial stability and strengthen liquidity, focusing on the areas where our company can provide the greatest value.
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Blanco added his confidence in the future of the transferred business: We are confident that our operations in India will thrive under the ownership of Shriram Pistons & RingsI would also like to express our sincere gratitude to the entire team in India for their outstanding contribution to the success of this business.
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Key points and frequently asked questions about the sale of Antolin's assets in India
Why has Antolin sold these entities in India?
The sale is part of a divestment plan communicated to the market whose main objective is to strengthen the balance sheet, improve financial stability and reinforce the company's liquidity, focusing on areas of greater added value.
Will Antolin disappear from the Indian market after this operation?
No. Antolin It maintains its presence through its global development centers in Pune y Hyderabad, as well as through its a joint venture with Krishna Maruti LimitedFurthermore, it has signed a technology licensing agreement with the buyer.
What impact does the operation have on staff and revenue?
The operation involves the transfer of an annual turnover of around 110 million euros and entails the integration of more than 1.500 employees into the structure of Shriram Pistons & Ringsensuring the continuity of productive activity.
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