The company proposes to acquire Italian company 'Italtech'
Windsor Machines has incorporated a wholly owned subsidiary (WOS) namely 'Wintech B.V.' in Netherland on 10 April 2013 for business/investment purpose(s).The company proposes to acquire an Italian company 'Italtech', subject to the approval from the Court of Italy and/or other statutory, legal, government authorities, if any, through a joint venture entity 'Wintech S.r.l.', to be held 80% by Wintech B.V and 20% by its Italian joint venture partner Geoplast S.p.a.
Italtech is the owner of 'Two-Platen' technology used extensively in the injection molding industry especially for production of large size plastic components for automobiles. Italtech has a well established client base which includes Fiat, Renault, Nissan and their tier-1 vendors (globally). They are also well established in manufacture of large size injection molding machinery catering to the growing requirements of industrial, household and other segments.
The co-operation between Windsor and Italtech would enable Windsor to upgrade and develop advanced technology machines at par with European standards and specifications at competitive prices and provide access to the growing global markets. Additionally, it would give Windsor an access to the global auto majors who are setting up their operation in India.
The company made this announcement during the trading hours today, 25 April 2013.
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