Indian firm Sintex eyeing German composite maker's acquisition

13-Jan-09

Sintex Industries, one of India's leading plastics manufacturers is eyeing to acquire Germany's composites manufacture, Geiger Technik following latter's bankruptcy filing, Indian daily DNA reported. In July, the Indian diversified plastics processor paid EUR6.9 mln to Geiger Technik valued at EUR 35 mln and has plans to further diversify into composites should the acquisition deal go through. Geiger runs four plants in Europe-three in Germany and one in Poland-is set to be revalued and Sintex will have wait till September in order to assess how much water its investment holds for Geiger's complete acquisition.