Indian conglomerate Lohia acquires Israel's Light & Strong1 min read . Updated: 12 Feb 2019, 08:49 PM IST
- Financial details of the deal were not disclosed
- The acquisition will allow Lohia to combine its engineering experience with new technologies
TEL AVIV : Indian conglomerate Lohia Group said on Tuesday it acquired Israel's Light & Strong Ltd, a maker of carbon fibre and glass fibre composite components for the aerospace and defence sector.
Financial details were not disclosed
The acquisition will allow Lohia, which is headquartered in Kanpur, India, to combine its engineering experience with new technologies to deliver high-quality products to its customers, Lohia said in a statement.
With the support of its operations in India, Lohia will seek to make Israel a key export hub to American and European markets.
"We believe this marks the beginning of our growth in this sector on a global scale," Lohia director Anurag Lohia said. "We will continue to look at other synergistic opportunities in this space towards our aim to be a key participant in the global defence and aerospace domain."
This story has been published from a wire agency feed without modifications to the text.