JRG Automotive Industries Private Limited has acquired the two-wheeler functional plastics division of Stanley Engineered Fastening India (SEFI), expanding its manufacturing presence in South India. The acquisition includes two operational manufacturing facilities in Manesar, Haryana, and Bangalore.
The acquired division produces plastic injection-moulded components for two-wheeler OEMs, construction equipment manufacturers, and Tier-1 two-wheeler suppliers across India. SEFI, a subsidiary of Stanley Black & Decker, Inc., will continue its core operations in engineered metals and plastic fastening solutions at its Chennai and Bangalore factories.
Pawan Goyal, Founder & Managing Director of JRG Automotive Industries, stated that the acquisition strengthens the company's presence across India's three major automotive hubs and expands its reach into the infrastructure equipment manufacturing segment.
JRG Automotive Industries, which manufactures plastic components for the automotive and defence sectors, aims to double its revenue in the current year through domestic and international joint ventures and acquisitions.
The company has established itself in the automotive components sector, particularly in plastic manufacturing. This acquisition marks a significant expansion of its manufacturing capabilities and geographic footprint in India's automotive manufacturing landscape.
The transaction value was not disclosed by either company. Stanley Engineered Fastening India has maintained its position in the engineered fastening solutions market, serving the aerospace, automotive, and industrial segments.