It manufactures a variety of body, brake & engine parts through high pressure die casting as well as gravity die casting processes. Founded in 1985, AEL is a market-leading aluminum die casting based in Aurangabad, India with five manufacturing facilities in India across Aurangabad, Pune and Pantnagar. The acquisition will ensure MCIE's entry into automotive aluminum die casting and increases MCIE's revenues & profits in India as well as strengthens MCIE's presence in two-wheeler segment. The acquisition is proposed to be completed on or prior to April 10, 2019. Mahindra CIE announced that its Board of Directors approved the acquisition of 100% of the issued and outstanding share capital of Aurangabad Electricals Limited. With more than 4,400 employees, Inteva Roof Systems operates sixteen manufacturing facilities and 6 R&D centers in 7 different countries.
The transaction, upon its closing and execution, shall entail an investment by CIE Automotive of USD 755 million. In September 2018, CIE Automotive announced the acquisition of Inteva Roof Systems. The sale closed late yesterday after several months of preparation and ongoing communications with affected employees, customers and suppliers. Inteva Products announced that it has completed the sale of its Roof Systems product line to CIE Automotive. The acquired facilities are located in Celaya, in the Mexican state of Guanajuato, the largest automobile corridor in Mexico, and are a key supplier for Tier 1 companies within the automotive sector, to which they supply a wide range of machining components. The value of the transaction (enterprise value) amounts USD 65.5 million. This integration will complement the group’s machining activities in Mexico and which will allow the company an important future physical and commercial expansion. The Company announced the acquisition of 100% of the share capital of the companies Maquinados de Precision de Mexico S. (From a press release on September 25, 2019) The closing of the transaction is subject to the fulfillment of the usual conditions in this type of transactions and will take place in 2020. It is specialized in the manufacture of gears, whose applications include sectors such as transportation and automotive, as well as industry or robotics. With nearly 300 employees and estimated 2019 sales of approximately EUR 70 million, Somaschini has three production plants, two in Bergamo (Italy) and another one in Indiana (USA).
The value of the transaction amounts to EUR 79.6 million. The Company announced the acquisition of 100% of the share capital of Somaschini S.p.A.
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