Sintex will acquire ownership of Bright Brothers’ all five automotive component manufacturing plants located in close proximity to major automobile production hubs like Chennai, Sohna, Pune, Pithampur and Nashik.
The newly-formed entity will retain all 400 employees from the existing workforce of the automotive division.
Bright Brothers’ plastics unit makes consoles, trims, bumpers, seating and cockpit systems. Sintex primarily makes fuel tanks in its auto plastics division. The acquisition represents a significant step towards establishing a strong presence in the domestic plastic auto component market, Sintex said.