Autoline Industries To Acquire 51% Strategic Stake In Stokota NV, Belgium

Autoline Industries Ltd has informed that the Company and Stokota NV have entered into a Memorandum of Understanding to execute a merger of the two Companies where in the Company will acquire a 51% stake in Stokotas Global Operations for a consideration of approximately INR 66.8 Cr in cash and equity.The Company is a Design Engineering Manufacturing solutions provider focused on sheet metal assemblies and formed tubular products, with integrated engineering, tool design and manufacturing facilities, in Pune, India.Key objectives include leveraging:1. The Companys design talent to use the integrated Autoline Stokota design operations as the groups global hub for Engineering Design and development2. The competitive advantage that India has in high-quality low-cost manufacturing, by outsourcing production of assembly parts for Stokota to the Companys production centres and thus improve Stokota and the Companys profitability.