New Delhi, April 30: Ashok Leyland has acquired the US-based Defiance Testing and Engineering Services for about Rs 72 crore.
A unit of Nasdaq-listed GenTek, Defiance provides testing services to auto equipment manufacturers and their suppliers.
GenTek manufactures industrial components, including precision-engineered parts, for value-train systems and performance chemicals.
Ashok Leyland has signed a share purchase agreement to acquire 100 per cent of the paid-up capital of Defiance, the company has informed the Bombay Stock Exchange.
Ashok Leyland provides design and engineering services to the automobile, industrial machine and power companies in the US through subsidiary Ashley Design and Engineering Services Division.
The acquisition of Defiance, which is based in Detroit, will help Ashley Design enlarge its customer base. Besides, it will enable the company to expand its offerings from engineering, design and development to testing, Ashok Leyland added.
The acquisition is subject to completion of the agreed closing conditions and further corporate and statutory approvals from both GenTek and Ashok Leyland. The deal is likely to be completed by the end of May.
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