Bagla Group, Fontana Gruppo Tie-up for Fastener Biz in India

Auto components and fastener maker Bagla Group has inked a strategic pact with Italy's Fontana Gruppo to scale up fasteners business in the country. Bagla Group said in a statement, "The partnership with Fontana Gruppo would enable the fasteners business of Bagla Group to acquire necessary technological expertise, size and scale, to become the largest fasteners manufacturer in India." . Bagla Group has a sizable presence in north and western parts of the country and supplies various components to customers like Bajaj Auto , Fiat, Volkswagen and Maruti Suzuki India .

Fontana Gruppo Vice Chairman Giuseppe Fontana said the partnership is a key milestone in the company's strategy to increase its footprint in emerging markets. "India is the most promising economy in the world at this stage and we are committed to serve our global customers having a presence in India. Additionally, the Fontana Gruppo proposes to use the local manufacturing capabilities and engineering expertise in India to serve its customers in various countries," he added.