Weindling, Two Indian Companies Merge
By Rob Bates, Senior Editor -- JCK Online, 5/1/2004 2:00:00 AM
Indian companies continue to link up with U.S. companies to get access to the American market.
In the latest example, Weindling International has joined with India's M. Suresh, a DTC sightholder, and AS Export, an Indian jewelry manufacturer, to form a new, as yet unnamed, entity.
Alexander Weindling, who will be CEO of the company's U.S. branch, said this merger differs from the other "multi-layered" partnerships between Indian and U.S. companies. Instead of one company buying the other, he said, the companies are swapping stock to form a new, integrated, global corporation. He declined to give the percentage of each party's equity holding.
"Never before in my knowledge has a sightholder invited two companies into their sightholding entity," Weindling said. "This will be built to last."
He said the company is looking at branding and marketing initiatives but for now is staying on the sidelines: "We have been watching and waiting. We think a lot of people have made a lot of mistakes. We think the brand game is just beginning and we are waiting for the dust to settle."
