Date: 2013-08-01

Rolex Rings to Buy LatAm Forgings Co

Rajkot-based Rolex Rings (RRPL), a supplier of forged and rolled rings to global brands such as FAG Bearing and SKF Bearings, is all set to buy out a Latin American forgings company for Rs 150 crore. Rolex has confirmed it has carried out a due diligence of the target company and the deal is likely to be completed in a month.

The acquisition will give the Rs 300-crore rings manufacturer access to new markets, said Manesh Madeka, managing director, RRPL.

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