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Tomkins buys controlling stake in Rolastar

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Announcement Corproate
Last Updated : Feb 05 2013 | 3:21 AM IST
Mumbai, February 14, 2008: Tomkins PLC of London and parent company of Tomkins Building Products Group of Richardson, Texas, USA is pleased to announce that it has acquired a controlling interest in Rolastar Private Limited, India company from its two promoter-owners, Pratap M Gidvani & family and Blue Star Limited. Rolastar is a pioneer in India for the manufacture of factory-made hollow profiles and related accessories for ductwork and air distribution using world-class state-of-art technology and equipment.
 
 
Tomkins sees excellent long-term growth opportunities for the Indian HVAC industry and, in particular, the air distribution segment. Rolastar's vast expertise in the field of HVAC air distribution systems, products and services can be seen in all construction markets for commercial, industrial and residential buildings and infrastructural projects. Rolastar currently has four manufacturing facilities spread strategically across India with plans to add two more in 2008. Its Air Express business unit distributes and installs air distribution systems in the major centres throughout India.
 
Tomkins PLC is a world class global engineering and machinery group with market and technical leadership across two business groups: Industrial & Automotive and Building Products.
 
 
Tomkins Building Products (a $ 1.7 billion group company) is predominantly North American-based. It includes an HVAC-segment in excess of $1 billion in annual revenue that is focused on air distribution and control products with several leading brands. Its two major companies of interest for expansion in the India market are ASC and Ruskin. ASC is a market leader in commercial diffusers and VAV boxes for the HVAC industry and Ruskin is a market leader in commercial dampers, louvers, ductwork, and duct silencers.
 
 
Rolastar will continue to operate with Mr. Pratap Gidvani as its Managing Director and its current management in place. It will further grow its blue-chip relationship base with the leading builders and HVAC consultants and contractors in India.
 
 
Terry O'Halloran, Chief Operating Officer of Tomkins Building Products Group comments on the move: "I am pleased to announce this strategically important acquisition in India. Rolastar provides us with a manufacturing and distribution network through which we can channel our other Air Systems products into the Indian, Mid-East and South Asian markets. Rolastar will also enable us to expand our sales and distribution of CASC products, which we acquired in 2007. We are excited to have Blue Star continue its long-standing relationship with Rolastar as we are to further develop equally strong relationships with Rolastar's other major customers."
 
 
Tomkins ordinary shares are listed on the London Stock Exchange under the symbol TOMK and also trade in ADR form on the New York Stock Exchange under the symbol TKS.
 
 
 

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First Published: Feb 14 2008 | 12:00 AM IST

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