HELDESHEIM, Germany (May 12, 2011)—India's Ruia Group is buying two rubber sealing companies—Turkey's Standard Profil A.S. and Germany's Meteor Gummiwerke KH Badje GmbH and Co.
A spokeswoman for Meteor confirmed the news, but declined to say more, citing potential anti-trust investigations.
The deal involves a binding letter of intent for Ruia to buy the family-held German company.
The purchases would make Ruia a major force in the global automotive profiles industry. The company purchased Schlegel Automotive Europe Ltd. in 2008 and Henniges Automotive Grefrath GmbH in 2009.