Sintex Industries Ltd, a leading plastic products manufacturer of India, announced on Thursday, July 31 that it has bought away 90 per cent of German automobile component maker Geiger technik GMbH. This acquisition cost Sintex Industries Ltd 35.6 million euros.

Speaking on the recent takeover, Managing Director Amit Patel highlighted, ’This acquisition offers Sintex market entry in Germany, which is the capital of the European automotive market.’ He added that both France and Germany are key OEM bases and that his company had succeeded in creating a presence at both places.

Geiger technik GMbH manufactures precision plastic parts including the components of fuel tanks and it is also a big name in brake fluid reservoirs and coolant. Geiger runs three units in Germany and another one in Poland. Its approximate sale in 2008 was 118.70 million euros, whereas the operating profit touched 8.9 m euros.

BMW, Daimler, Volkswagen and Siemens are some of the key clients of the German auto component maker Geiger. In order to strengthen its auto plastic division, the Sintex has adopted the acquisitive strategy which helped its set up manufacturing capability in U.S., Europe, Africa and India.