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Article: Ruia buys control of Dunlop India, Falcon Tyres.(Ruia Group, Dunlop India Ltd. and Falcon Wheel Div.)(Brief Article)
- Article from:
- Rubber & Plastics News
- Article date:
- January 9, 2006
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KOLKATA, India-Ruia Group, a privately held textiles and engineering company, has bought controlling interest in Indian tire makers Dunlop India Ltd. and Falcon Tyres Ltd.
The company said it plans to restart Dunlop India's two idled plants within a year.
Ruia took over the ownership stakes in Dunlop India and Falcon from Jumbo World Holdings Ltd., a Dubai-based diversified conglomerate that had owned shares in the two tire firms since 1984 and 1987, respectively. Jumbo owned 74.5 percent of Dunlop India and 68 percent of Falcon.
India media put the value of the transaction at about $44 million.p India has been idled for most of the past four ...