Mumbai:Indian auto component maker Baglla Group and Italy’s Fontanana Gruppo signed a strategic partnership on Monday in a bid to expand their presence in the Indian fastener market. In a statement, promoter Rishi Kumar Bagla said Bagla’s partnership with Fontana Gruppo will provide technical expertise and scale to its fastener business to become the largest fastener manufacturer in India.

Fontana Gruppo Giuseppep Vice President Fontana He said that the strategic partnership with bagla, Group in India is part of the company’s strategy to expand its business in emerging markets. In a statement, he said, “Fontana Gruppo proposes to leverage local manufacturing capabilities and engineering expertise in India to serve customers in multiple countries.”

Domestic automotive OEM (original equipment manufacturer) customers such as Bajajaja Group, Fiat, Volkswagen, Maruti, and overseas OEMs and major customers such as Chrysler, Rotax, and GPM.

BMR Advisors as well as the Italian network Translink Corporate Finance acted as financial and structural advisors and BMR Legal acted as legal advisor to Bagla Group. Legal Advisors.

CFO SIM and Yarpa acted as financial advisors to Fontana Gruppo. Financial Advisor. Studio Santa Maria and Dua Associates are Fontana Gruppo’s legal advisors. Legal Advisor.