The Management Board of Boryszew S.A. informs that today the Company has signed a Term Sheet with Sebros Auto Private Limited in India including the basic conditions of transactions.
Subject of Term Sheet is an agreement of acquisition of works located in B-5 Midc Mahalunge, Chakan Talegoan Road Pune 410501, India, near Pune as well as selected items of works in Faridabad, including among others:
- real estate with productions installations,
- inventories,
- intangible assets including first of all: know-how and employees agreements,
- selected assets from Faridabad works.
Liabilities will be excluded from the transaction.
The works produces air-conditioned cables for automotive branch for the Indian cars producers.
The acquisition will be executed by the special purpose company, Boryszew’s subsidiary, Maflow India, which has been now under the process of registration.
Closing of the transaction should be fixed in 4-5 weeks from the date of signing Term Sheet.
Concluding of the above mentioned transaction is a result of a constant policy implemented by Boryszew Group, which aims at achieving a status of globe important – international concern of products for automotive branch.
Acquisition of works in India is connected with the strengthen of position on the growing BRIC markets (Brazil, Russia, India and China).
