On February 21, The Ruia Group announced the acquisition of German Acument GmbH & Co, one of the leading automotive fastener manufacturers. Acument, which has 15% of market share in fastener segment in Europe, specializes in the production of long shafted bolts, hexagonal screws, nuts, and forged parts. Before it declared bankruptcy in 2009, its turnover reached Euro 800 million. The Ruia Group says that it will invest Euro 4 million in the company and expect the turnover of the company to reach Euro 200 million this year.

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