Electronics Production | July 07, 2010
Delta Magnets enhances its manufacturing capacity with the latest acquisition
As reporterted earlier Delta Magnets has purchased the UK based company MMG Magdev Ltd and the Chennai based MMG India Pvt Ltd.
The investment will see Delta Magnets Ltd takeover the two firms from TT Electronics, a British electronic components supplier, for a cumulative consideration of £1.7 million. TT Electronics’ sale of its two business units comes in an effort to cut down its debt, while for Delta, it enhances its manufacturing capacity and expands its global reach into new places in Europe, US and the UK, in a addition to a ready market for its existing products range. The investment in the two companies will, additionally, help bolster Delta Magnets presence for magnets domestically, as well as in the global market.