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The Textile Magazine
OctoBER 2011
Corporate news
A.T.E. Enterprises has concluded an agreement to
acquire the textile machinery component business from
SKF India Ltd. The textile machinery components man-
ufactured by SKF include high-speed spindles, draft-
ing systems and top rollers for ring frames and speed
frames. The transaction is expected to be completed in
the frst quarter of 2012.
A.T.E., a diversifed engineering group, is a leader in
textile engineering with state-of-the-art manufacturing
joint ventures, as well as representation of 50+ world
class principals. A.T.E. has been looking for opportu-
nities to further consolidate its business in this feld,
whereby it can leverage its experience and expertise
built over more than 70 years.
Under the agreement, the manufacturing operation
will be shifted to A.T.E.’s new state-of-the art set-up in
Ahmedabad, for which building construction is in full
swing. Key personnel from different functions will also
be transferred to A.T.E. which has commenced recruit-
ment of the remaining personnel.
Explaining the planned acquisition, Mr. Anuj Bhagwa-
ti, Managing Director of A.T.E., said: “Our decision to
invest in this business comes after careful due diligence.
SKF is a technology leader and A.T.E. has the domain
expertise to leverage its textile technology platform. We
are excited about this business coming under the A.T.E.
umbrella, as it is consistent with A.T.E.’s vision to have
only technologically superior products. We see great po-
tential for this business both in India and the world”.
In an interview to Textile Magazine, Mr. AnujBhag-
wati spoke in detail of the acquisition and its implica-
tions.
Mr. Anuj Bhagwati,
Managing Director
By K. Gopalakrishnan