Amalgamations Group has agreed to sell remaining equity in joint venture to fuel systems specialist, Stanadyne.
28 Mar 2016 | 5973 Views | By Autocar Pro News Desk
Stanadyne, a global fuel injection systems designer and manufacturer, today announced the completion of buyout of a joint venture with The Amalgamations Group.
In a mutually agreed upon buyout, Stanadyne acquired the remaining equity in the joint venture, which was formed in 2001 to bring cleaner, more efficient diesel ...
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Stanadyne, a global fuel injection systems designer and manufacturer, today announced the completion of buyout of a joint venture with The Amalgamations Group.
In a mutually agreed upon buyout, Stanadyne acquired the remaining equity in the joint venture, which was formed in 2001 to bring cleaner, more efficient diesel fuel systems and technologies to the Indian market.
Stanadyne’s near east managing director Sanjay Chadda commented, “We entered the Indian market 15 years ago with one of the best partners we could ask for, The Amalgamations Group. The results have far exceeded our expectations in terms of sales, but also working with the welcoming community of Chennai, and with some of India’s most talented automotive professionals.”
Stanadyne operations and production will remain at its Chennai facility under the management of Chadda, who earlier this year, announced a multi-year investment in the Chennai operations. The investment will help increase manufacturing capacity for new products like the emissions reducing EcoForce diesel fuel pump, which was announced in mid-2015.
Further, Chadda expects sales to escalate in India in the next few years, and sees Chennai as a critical component of meeting those expectations.
Also commenting on the occasion was Venkataramani of The Amalgamations Group: “Stanadyne is a very capable company, with deep technical engineering expertise in diesel fuel systems and an even deeper history in precision manufacturing. Our success in the last 15 years with them is indicative of their product innovation and commitment to India.”
With the change in ownership, the business in India, formally known as Stanadyne Amalgamations Private Limited, will become Stanadyne India Private Limited. Stanadyne and The Amalgamations Group plan to continue to work together as customers and suppliers to one another.
Currently, Stanadyne is focused on creating technology for engines under 50 HP, which account for 80% of all off-road diesel engines in India.