Tata Acquires Dutch Lanka Trailers for $ 8.3mn

07th January 2012, www.ft.lk

Tata group firm TRF Ltd. has increased its shareholding in Sri Lanka-based Dutch Lanka Trailer Manufacturers Ltd. to 100 per cent by acquiring the remaining 49 per cent stake for $ 8.33 million.

TRF had picked a 51 per cent stake in 2009 for $ 8.67 million through its wholly-owned subsidiary TRF Singapore Pte. Ltd. The deal also gave TRF a Put and Call option to acquire the balance 49 per cent, which the firm has exercised now.

Dutch Lanka Trailer has a manufacturing facility in Sri Lanka and sells trailers in over 30 countries. One of its subsidiaries is also involved in repairing, maintenance and service business of trailers.It also has a subsidiary in Oman besides a JV with Tata International to manufacture and sell trailers in India.

TRF is involved in providing solutions for material handling equipment and processing systems required in the infrastructure development. It has also expanded into automotive applications business. TRF earlier said that it plans to grow to Rs. 2,500 crore by 2013 focusing on material handling business and auto applications business.


For the six month period ending September 2011, TRF reported 7.55 per cent increase in revenues to Rs. 271.86 crore with Rs. 5.3 crore in net profit (as compared to Rs. 15 crore loss) in the same period last year.
In 2010, TRF acquired UK-based Hewitt Robins International for $ 4.62 million. Hewitt Robins is engaged in design, manufacturing of screens, mobile crushing and related products.

Tata Communications Bid for Sri Lanka's Suntel, a Telco Running Fixed Access Wireless Network

04th October 2010, www.lankabusinessonline.com

India's Tata Communications had put in a bid for Sri Lanka's Suntel, a unit of Sweden's Telia which runs a fixed access wireless network in the island, a media report said.

India's Economic Times said, Tata Communications Ltd (TCL) formerly a state-run firm in which the government still owns 26 percent has been given the go ahead to bid for the Sri Lankan telco.

TCL had submitted the bid last month, the newspaper said, citing an unnamed Indian government official.

The report said in 2008, TCL had bid 80 million US dollars for the firm, but this time it is expected to have bid less.

India's Mahanagar Telecom Nigam Limited (MTNL) had submitted a higher bid at the time, but later pulled out.

The report said TCL was still negotiating the purchase, but is not clear whether the bid is still active.

Suntel's chief executive Jeremy Huxtable told LBO that he had no comment to make at this time.