The Company has announced that the acquisition of Imatra Kilsta AB, Sweden along with its wholly owned subsidiary Scottish Stampings, Scotland, on September 21, 2005. Imatra Forging Group is one of the world's leading forging group, largest manufacturer of Front Axle Beams and the second largest crankshaft producer in Europe. With manufacturing facilities at two locations, Karlskoga Sweden, & Ayr Scotland, Imatra Forging Group has a long and proud tradition in forgings and an impeccable reputation for Quality and Technology. In an all cash deal, the Company has acquired 100% ownership interest in Imatra Kilsta AB, Sweden and Scottish Stampings, Scotland through a 100% owned SPV with immediate effect. Mr. B N Kalyani, Chairman & Managing Director, of the Company said, "The Imatra Forging Group acquisition completes our global dual share capability. We can now produce all of our core products - crankshafts, beams, knuckles and pistons in minimum two locations worldwide and provide design & engineering and technology front end support, close to customers for these products. This has been our core strategy to enhance our competitive advantage by giving complete service & better value to our global customers and enhance our share of business with them". The acquisition deepens Company's relationship with some of the largest commercial vehicle manufacturers and strengthens its position in the European commercial vehicle, diesel engine and passenger car industry through relationships with prestigious new customers. Imatra Forging Group's technology and product development capability gives us a 'full service supply' capability across our core engine & chassis components for both passenger cars and Commercial Vehicles.