Pawan Kumar Ruia in Calcutta on Monday. Picture by Kishor Roy Chowdhury

Calcutta, Feb. 21: City-based Ruia Group has acquired four plants and one logistics centre of Acument GmbH, a 134-year-old German firm that provides fastening and assembly solutions, for around $200 million.

Ruia Global Fasteners (RGF), a new company incorporated in Germany by the Ruia Group and promoted by Wealthsea Ltd (Mauritius), has acquired the assets of Acument Germany, part of US-based Acument Global Technologies.

The plants are located in Neuss, Beckingen, Neuwied and Schorzberg, while the logistics centre is in Koln, together covering 1,30,000 square meters and producing 3.2 billion parts per year.

“The global auto industry in 2011 is stated to grow at 6.9 per cent and in India it will grow at 26.4 per cent. As a result, the auto ancillary industry will also grow. We want to invest early to get a headstart in the business,” Pawan Ruia, chairman of Ruia Group, said.