India’s PK Ruia Acquires Sealynx Automotive

India-based Pawan Kumar Ruia Group has acquired French automotive sealing company Sealynx Automotive with plants in France, Romania, Morocco and Tunisia. The value of the deal wasn’t disclosed. Following the acquisition the company has been renamed Ruia Sealynx SAS.

Sealynx Automotive has a workforce of 981 and it reached a turnover of €68 million in 2010.
Its cusomers include French OEMs PSA Peugeot Citroën and Renault, and Romanian car maker Dacia.

Since the economic crisis of 2008, the French supplier was suffering from financial problems and in December 2010 the commercial court had appointed an administrator to run the company.

PK Ruia Group entered into the business of automotive sealing systems in 2008 with acquisitions of Schlegel Automotive in UK followed by Draftex Automotive GmbH of Germany in 2009. Last week, the Group announced signing binding agreements with Standard Profil AS of Turkey and Meteor Gummiwerke of Germany.