Kolkata-based Ruia group has acquired two-wheeler tube manufacturing company JJ Polymers. According to a company official, the recent acquisition is a part of Ruia group's expansion plans. However, no details regarding the transaction of the deal have been revealed to the media. The recently acquired JJ Polymers has a production capacity of 900,000 units per month. In the last two-three years, Ruia group had acquired other companies including Monotona Tyres in 2007 and Falcon Tyres in 2006.

 

Monotona Tyres has the capacity of producing 500,000 tubes while Falcon Tyres can produce 350,000 tubes per month. According to company sources, the inclusion of JJ Polymers will not only expand the production of Ruia but also strengthen its position in the market. Speaking to media, the chairman of the Ruia group, Pawan Kumar Ruia stated that although there is a slight decline in the demand of four-wheelers due to economic slowdown, but the two-three wheeler market is very still very productive.

 

He further informed that Ruia group has the capacity of producing 1.7-1.8 million two-wheeler tubes per month. The company has also under taken rationalisation of staff at the non-worker level. The group's heavy engineering and infrastructure company Jessop and Co. has come out with a voluntary retirement scheme for its 468 office staff. The group's arm has the plan to reduce the office staff strength by 200. It is worth mentioning that Ruia group has acquired the ailing Jessop and Co in 2003 and turned it into a profit-making business.