Fontana Gruppo, Italy and Bagla Group tie-up for fasteners business in India

Resource from: Economic Times Likes:196

Sep 25,2015

MUMBAI: Fontana Gruppo, Italy and Bagla Group have signed definitive agreements to enter into a strategic partnership for the Fasteners Business in India. "The strategic partnership with Bagla Group in India is a key milestone in our strategy to increase our footprint in Emerging Markets. India is the mostpromising economy in the world at this stage and we are committed to serve our global customers having a presence in India, said Giuseppe Fontana, Vice Chairman of Fontana Gruppo. The Fontana Gruppo proposes to use the local manufacturing capabilities and engineering expertise in India to serve its customers in various countries. Bagla Group, led by Rishi Kumar Bagla, is a leading automotive component supplier based in Western and Northern India and has interests in aluminum die casting, automotive fasteners, automotive electricals, refrigeration products. Fontana Gruppo of Italy is the global technology leader in Fasteners Business, having revenues of about $1 billion, over 4,200 employees and 20 production plants based in Europe, in the United States, in Mexico, in Brasil and now in India as well as a sales organization in all continents. Its key customers are most of the world leading OEMs including FCA, Volkswagen Group, Ford, General Motors, Caterpillar, RNPO, PSA, Tata, CNH, Cummins, Bajaj BMR Advisors, together with its Italian network firm, Translink Corporate Finance acted as financial and structuring advisors to the Bagla Group, while BMR Legal was the Legal advisor to the Bagla group.

(Economic Times)

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