Endurance Technologies’ arm acquires entire equity stake in Fonpresmetal

08 Jan 2019 Evaluate

Endurance Technologies’ subsidiary -- Endurance Overseas Srl., Italy and the special purpose vehicle for strategic overseas investments, has acquired the entire equity stake in Fonpresmetal Gap SpA (Fonpresmetal), an aluminum die casting company in Italy.

Fonpresmetal has its manufacturing facility in Bione (Brescia, Italy) with a capacity of 6,500 Tons of which 50% is dedicated for supplies to the Endurance Group companies in Italy. The said acquisition has been completed for a consideration of euro 8.16 million.

The estimated balance sheet of this acquired entity (in local GAAP) shows cash & cash equivalents of euro 3.5 million gross. Upon netting of the outstanding debt for leasehold assets, the cash & cash equivalents would stand at euro 1.6 million.

Endurance Technologies manufactures aluminium casting (including alloy wheels), suspension, transmission and braking products. The company’s products include aluminium casting, which offers high pressure die castings, low pressure die castings, gravity die castings etc.

Endurance Tech Share Price

2361.05 9.85 (0.42%)
22-Nov-2024 16:59 View Price Chart
Peers
Company Name CMP
SamvardhanaMotherson 165.15
TVS Holdings 11537.25
Bosch 34335.30
UNO Minda 1066.90
Endurance Tech 2361.05
View more..
© 2024 The Alchemists Ark Pvt. Ltd. All rights reserved. MoneyWorks4Me ® is a registered trademark of The Alchemists Ark Pvt. Ltd.