Uma Precision may acquire Aussie firm

Pune-based Uma Precision (UPL) has evinced interest in acquiring Australian forging company Ajax EF.

In a company statement, Uma Precision said it was looking to acquire the Australian company that manufactures auto components.

Apart from UPL, two other companies have bid for Ajax EF.

Rajendra Kankaria, MD and CEO, Uma Precision, said, "The acquisition of Ajax EF (if successful) will certainly make our hold in the European market strong."

Ajax EF is the largest cold forged components and fasteners manufacturing company in Australia with an installed capacity of 8,000 million tonne a year.

The facilities of Ajax include cold forging machinery, heat-treatment process, surface treatment system. The company also owns its warehouse facilities in and outside Australia in cities such as Columbia SC and Chicago, US.