Sintex Acquires Nero Plastics Of US

Ahmedabad: Wausaukee Composites mc, USA (WCI), a downstream subsidiary of Gujarat-based Sintex Industries, has purchased Nero Plastics Inc. Sintex had taken over Wausaukee Composites mc, USA (WCI) six months ago. Its customer base comprises Caterpillar, Motor Coach Industries and Kenworth Truck. Caterpillar accounts for around 65 per cent of its sales, and is also a major customer of WCI. According to industry sources, the group has purchased the company for Rs 20 crore. The take over represents a significant step towards consolidating our position in the US'' plastic composite market. Nero Plastics has showed firm growth through the years.