Hardware Parts, Mechanical Parts, CNC Parts
Right Tight Fasteners Secures €117M Strategic Partnership with Italy’s Fontana Gruppo to Expand Global FootprintNashik, India – March 4, 2025 – Right Tight Fasteners (RTF), India’s second-largest manufacturer of automotive fasteners, announced today a landmark strategic partnership with Italy’s Fontana Gruppo, under which the Italian conglomerate will acquire a 60% stake in RTF for approximately ₹1,000 crore (€117 million). This marks one of the largest foreign investment deals in India’s auto components sector in recent years, poised to reshape the global fastener supply chain landscape. The deal, structured in two phases, involves RTF first acquiring Fontana Gruppo’s existing Indian operations, BG Fastening, followed by the Italian firm purchasing the majority stake in the combined entity. Notably, RTF’s current management team will retain operational control over the integrated business in India, ensuring continuity in serving its core clientele including Tata Motors, Mahindra & Mahindra, Ashok Leyland, and Ola Electric. “This partnership is a testament to India’s growing prominence as a global manufacturing hub and RTF’s technical capabilities,” said Balbir Singh Chhabra, Managing Director of RTF. “By leveraging Fontana Gruppo’s international distribution network and advanced manufacturing expertise, we aim to scale our presence in key markets across Europe and Southeast Asia, while strengthening our leadership in India’s booming automotive and infrastructure sectors.” Giuseppe Fontana, CEO of Fontana Gruppo, echoed the strategic value of the collaboration: “India’s economic scale, coupled with its status as a gateway to the Far East, aligns perfectly with our localization strategy. RTF’s strong domestic footprint and established client relationships provide an ideal platform to expand our Asian market reach.” Industry analysts note that the proceeds from the stake sale will fuel RTF’s expansion plans, including upgrading its four manufacturing facilities across Maharashtra, Tamil Nadu, and Uttarakhand. The deal follows similar high-profile foreign investments in India’s auto component sector, including Cummins Inc.’s 2022 acquisition of a 26% stake in Automotive Axles. |
Gilan Hardware Private Limited
Tel：+91-0755-3694027
E-mail：info@gilanmedical.com
Addr：C91, Sector C, Shahpura, Bhopal, Madhya Pradesh 462016, India
