Uma Precision readies for second Aussie buy
Precision engineering components maker Uma Precision Ltd (UPL) has filed expressions of interest to acquire Australian company Ajax Fasteners.
UPL had earlier acquired Australian company Edwards Repetition Pty Ltd. a little over a month ago. Ajax manufactures 900 different components.
UPL Managing Director Rajendra Z Kankaria said his company had a strong chance of securing ownership of Ajax from among the three bids, only Uma group wants to keep the plant operating, while the two other parties want to buy only Ajax’s plant and equipment.
Ajax has an employee base of about 140.
Kankaria said "We already have incorporated a company in Australia to be called ‘Edwards Repetition Uma Precision Australia Pty Ltd.’ and the acquisition of Ajax EF would certainly make our hold strong in European market".
Ajax EF is a largest cold forged component and fastener manufacturing company in Australia for more than 100 years, having an installed capacity of 8000 MT per year for bolts.
The facilities of AJAX includes cold forging machinery, heat treatment process and surface treatment facility. The company also owns its warehouse facilities in and outside Australia like Colombia (South Carolina) and Chicago in the US.
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