Lord Paul's Caparo group acquires Polish forging firm
The $1.5 million Caparo Group acquires a medium-sized Polish company producing a range of forgings for the ship building industry.Updated: May 20, 2007 19:34 IST
The fast-growing $1.5 million Caparo Group founded by NRI industrialist Lord Swraj Paul has acquired a medium-sized Polish company producing a range of forgings for the ship building industry, it was announced in London on Sunday.
"Caparo plc is pleased to announce the purchase of Zuo Bomet SA, Barlinek, Poland from the Agencja Rozwoju Przemyslu SA and Korporacja Polskie Stocznie SA," the announcement said.
Bornet will form part of the Caparo Forging group of companies and will be owned by the UK company, Caparo Engineering Limited. With business interests predominantly in the manufacture of steel, automotive and engineered product, the Caparo Group's wider activities encompass materials testing services, hotels, film distribution and private equity investment.
Operating from over 50 sites in the UK, India, North America and Spain, the group has been seeking an appropriate investment in central and eastern Europe and the acquisition of Bomet SA is the first step into these markets, the announcement said.
Bomet, a medium sized manufacturing company, comes with a proud history, skilled engineering employees, a strategic location and potential for high growth.
Bomet produces a range of forgings for the ship building industry. Products include turnbuckles, lashing bars, twistlocks, sockets, valves and ship hooks.
The company also supplies forgings to the truck, earth moving and railway industries. Bomet currently operates from a 27 acre site and employs 270 people.