India: RSB acquires US transmission supplier for US$19m

摘要

THE RSB Group, a Pune-based engineering and automotive components supplier, has bought Detroit-based privately held firm, Miller Brothers Manufacturing. The commercial vehicle transmissions manufacturer was acquired for US$19m. The deal has an enterprise valuation of US$30m. "With the automotive components market growing at an exceedingly fast pace, our focus in recent years has been to expand our presence into new markets and provide a wide portfolio of products in the automotive sector to reach out to our global client base," RK Behera, founder and chairman of the RSB Group, was quoted as saying by India's Economic Times newspaper.