Indian SMEs are globe-trotting through M&A
June 09, 2010 | COMMENTS ( 0 )
An increasing number of Indian SMEs are getting into mergers and acquisitions (M&As) with American and European countries.
The Eurozone debt crisis and the slow economy of America are the reasons behind this development. The Indian SMEs have grown to reach beyond the contours of the country and explore business opportunities on the global platform.
About 35 deals have been signed this year from January 2010 as against 40 deals during the entire 2009.The jump in the number of M&As may be to get access to technology, duty concessions, product quality or better stock of resources but the SMEs are focusing on establishing themselves as a brand in the global arena.
The SMEs have acquired companies in the US as well as in the European countries. The notable acquisitions of Indian SMEs are the taking over of the Colourplus (UK) by Chennai based clothing manufacturer Ambattur clothing, Rexor Group (France) by New Delhi based polyester manufacturer Jindal Polyester and Third dimension apparels (Italy) and Emmetre Tintolavanderie Industrial (Italy) by Ludhiana based textile manufacturing group Malwa Industries.
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