TRF Acquires Dutch Lanka Trailer Manufacturers Limited (DLT), Sri Lanka
TRF DLT Agreement signing. (Sitting from left to right are Mr. Sudhir Deoras, MD TRF Limited and Mr. Dilip Kodikara, MD, Dutch Lanka Trailer Manufacturers Limited)

 

July 10, 2009
Kolkata


On 7th July 2009, TRF Ltd, a Tata enterprise signed an agreement to acquire Dutch Lanka Trailer Manufacturers Limited (DLT). In the first phase, TRF will acquire 51% of equity shares at a consideration of US$ 8.67 Mln. It would also sign a Call & Put Option Agreement for acquisition of balance 49% of equity shares at a consideration of US$ 8.33 Mln.

DLT has manufacturing facility in Sri Lanka and sells trailers in as many as 30 countries. Dutch Lanka Engineering (Private) Limited, 100% subsidiary of DLT in Sri Lanka, is engaged in repairs, maintenance and service business for trailers. DLT also has a subsidiary in Oman which manufactures and sells trailers in the West Asian markets.  DLT, at present, exports trailers to 30 countries. Further DLT, through its joint venture with Tata International Ltd. in India, manufactures and sells trailers in India.

TRF plans to grow rapidly – five times in five years - and become a-Rs 2500 crore by 2013, by enhancing focus on material handling business and entering new businesses as necessary. Recently, TRF Ltd had entered in to a shareholders agreement along with M/s. Tata Capital Ltd and Jasper Industries Pvt. Ltd to form a joint venture viz. "Adithya Automotive Applications Pvt. Ltd" with the main objects of engaging in the business of automotive applications to provide end solutions through fabrications and machining for vehicles to be used as tippers, load bodies, trailers, refrigerated bodies, etc.

In June, 2009, the Company turned a new page in its history by recommending the issue of Bonus Shares in the ratio of 1:1 (i.e. one share for every one share held by the existing shareholders of the Company).

TRF Ltd is a pioneer in engineering and supply of material handling equipment and systems for five decades. The company also owns a subsidiary, York Transport Equipment (Asia) Pte Limited, Singapore, which is engaged in the business of production and distribution of trailer undergears, with market presence in 27 countries and manufacturing base in Singapore and Australia, and India  from April 2009.



(Rajen Sahay)
Head, Corporate Communications
TRF Limited

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