Sintex Industries has acquired Nero Plastics Inc, a custom molder of low and medium volume structural plastic and composite components. The acquisition was made by downstream subsidiary Wausaukee Composites, which also bagged order from a large player in the US energy sector.
The buy strengthens Wausaukee Composites position as a manufacturer of highly engineered structural plastic products supplied to original equipment manufacturers, worldwide
Nero Plastics' customer base includes Caterpillar, Motor Coach Industries, and Kenworth. Caterpillar contributes 65 per cent of its sales, and is also a major customer of WCI.
Wausaukee Composites has been awarded a production contract from a leading player in the non-conventional energy segment in the US, to manufacture 600 wind turbine generator Nacelles in a three year period. WCI Intends to manufacture Nacelles in an additional production facility to be acquired in USA.
Nero Plastics reported sales of $17.5 million in 2006. The management team and workforce of 181 employees would be integrated with WCI.