Gurgaon-based auto components manufacturer Jumps Auto Industries Ltd has acquired German company Honasco Kunststofftechnik GmbH (Honasco) and its allied company from the Joerg Schwarzbich Group, for an undisclosed amount.
Established in 1960, Honasco is involved in design, development and manufacturing of complex plastic components, including hybrid parts, thermosetting parts and filtration systems. It employs 130 people and has manufacturing facilities in Germany and Poland.
The firm had sales of €25 million in 2013 and its clientele includes Johnson Controls, BSH, Rollax, Grammar, Volkswagen Group and Miele, etc.
“Jumps Auto has been focused on acquiring a technology driven manufacturer of plastic parts for the last few years and this acquisition is a great opportunity to absorb contemporary technologies and grow the business. An additional manufacturing facility is also planned for India in the near future,” said Sanjay Malhotra, MD, Jumps Auto.
Jumps Auto manufactures rotating electrical assemblies, including starter motors and alternators. Founded in 1990, the firm has its manufacturing facility in Gurgaon. It derives 90 per cent of its sales from exports and has a footprint in 50 counties.
(Edited by Joby Puthuparampil Johnson)