Raymond to Acquire Trinity India
Raymond Ltd., a Mumbai-based conglomerate known primarily for its textiles, is acquiring a majority stake in Trinity India Ltd., a manufacturer of forged auto components. Pune-based Trinity is being acquired through Raymond’s Ring Plus Aqua subsidiary, which manufactures ring gears, flex assemblies and precision sheet-metal components. Trinity India, which has five manufacturing facilities in the country, exports more than 60% of its total sales. Its customers include Tata Motors, Maruti Suzuki, Ford India, Force Motors, Turbogears and Iljin Auto Motors, among others.