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Jomz · 26th July 2007, 09:41

To acquire Detroit-based Testing Services firm

Date:30/4/2007 Published from :Corporate Office

Ashok Leyland, the Indian flagship of the Hinduja Group, has signed a Share Purchase Agreement to acquire 100% of the paid-up capital of Defiance Testing and Engineering Services, Inc (DTE) based near Detroit, Michigan, USA. DTE is a well established organization engaged in providing independent testing services for leading Auto OEM’s and their Tier 1 and Tier 2 suppliers. DTE’s capabilities are in the areas of Laboratory-based testing and data acquisition, Simulation durability testing, NVH Testing, Road Load Data Acquisition, Safety Testing and Facilities Management and test laboratory consulting. DTE has been a successful and profitable organization.
The purchase price of the transaction is US $ 17 million.
DTE is currently owned by GenTek Inc, USA, a publicly traded company in NASDAQ, which is primarily engaged in the manufacture of industrial components including precision engineered components for valve-train systems and performance chemicals.
Ashok Leyland through its Ashley Design and Engineering Services Division (ADES) is already engaged in providing design and engineering services to the automobile industry and also to customers in the industrial machines and power generation sectors.
The acquisition of the testing facilities of DTE located near Detroit, will help ADES to enlarge the existing customer base and serve the leading auto makers in the US, and provide the ability to offer greater integrated value added service propositions from engineering design and development, to testing.
Ashok Leyland believes that together with DTE’s existing assets and testing facilities and using the synergy with ADES, DTE would target higher value-added business with the existing customers and also new customers.
The acquisition is subject to completion of the agreed closing conditions and further corporate and statutory approvals from both GenTek and Ashok Leyland. The closing is expected to be completed by the end of May 2007.

26th July 2007, 09:41	#176 (permalink)
Jomz BHPian Join Date: Sep 2006 Location: Michigan, United States Posts: 193	Just to inform about a few acquisitions by AL To acquire Detroit-based Testing Services firmDate:30/4/2007 Published from :Corporate OfficeAshok Leyland, the Indian flagship of the Hinduja Group, has signed a Share Purchase Agreement to acquire 100% of the paid-up capital of Defiance Testing and Engineering Services, Inc (DTE) based near Detroit, Michigan, USA. DTE is a well established organization engaged in providing independent testing services for leading Auto OEM’s and their Tier 1 and Tier 2 suppliers. DTE’s capabilities are in the areas of Laboratory-based testing and data acquisition, Simulation durability testing, NVH Testing, Road Load Data Acquisition, Safety Testing and Facilities Management and test laboratory consulting. DTE has been a successful and profitable organization. The purchase price of the transaction is US $ 17 million. DTE is currently owned by GenTek Inc, USA, a publicly traded company in NASDAQ, which is primarily engaged in the manufacture of industrial components including precision engineered components for valve-train systems and performance chemicals. Ashok Leyland through its Ashley Design and Engineering Services Division (ADES) is already engaged in providing design and engineering services to the automobile industry and also to customers in the industrial machines and power generation sectors. The acquisition of the testing facilities of DTE located near Detroit, will help ADES to enlarge the existing customer base and serve the leading auto makers in the US, and provide the ability to offer greater integrated value added service propositions from engineering design and development, to testing. Ashok Leyland believes that together with DTE’s existing assets and testing facilities and using the synergy with ADES, DTE would target higher value-added business with the existing customers and also new customers. The acquisition is subject to completion of the agreed closing conditions and further corporate and statutory approvals from both GenTek and Ashok Leyland. The closing is expected to be completed by the end of May 2007.