Fontana Gruppo has completed the acquisition of a majority ownership stake in Right Tight Fasteners Pvt Ltd, a leading player in the Indian fasteners market specialising in the production of high-strength special bolts, including special nuts and bolts.
With over forty years of history, Right Tight Fasteners brings to Fontana Gruppo five strategically located plants across India, serving customers in the automotive, agricultural, industrial, and construction sectors.
The agreement, signed with the Chhabra family – who have built a highly reputable and well-established company over the decades, fits into Fontana Gruppo’s broader strategy to strengthen its presence in Asia. The acquisition aims to enhance the added value and service provided to customers in line with a global footprint strategy.
Right Tight Fasteners, headquartered in Nashik, Maharashtra, will integrate with Fontana Gruppo’s existing operations in India, where it has been active since 2015, meaning there will be a total of six plants in the country, with a total workforce of 2,000 people – making Fontana Gruppo the second largest producer of special fasteners in India.
Giuseppe Fontana, CEO at Fontana Gruppo, stated: “The acquisition of a leading Indian company aligns perfectly with our long-standing localisation strategy, building local facilities and organisations in key markets to better serve those same markets. India represents a growing economy of significant interest due to its scale and potential, and it serves as a gateway to the entire Far East.”
Balbir Singh Chhabra, managing director of Right Tight Fasteners, added: “This strategic partnership with Fontana Gruppo will enable us to elevate our offerings by leveraging their advanced technology, robust infrastructure and best practices.”
Among the additional growth opportunities arising from this deal is the opportunity to establish an R&D center, which will leverage the expertise of both companies and collaborate with other innovation teams operating in different regions.
Will joined Fastener + Fixing Magazine in 2007 and over the last 15 years has experienced every facet of the fastener sector - interviewing key figures within the industry and visiting leading companies and exhibitions around the globe.
Will manages the content strategy across all platforms and is the guardian for the high editorial standards that the Magazine is renowned.
Don't have an account? Sign Up
Signing up to Fastener + Fixing Magazine enables you to manage your account details.
