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Time of India
5 hours ago
- Automotive
- Time of India
Wipro Infrastructure Engineering to acquire majority stake in Lauak Group
Bengaluru: Wipro Infrastructure Engineering (WIN) is acquiring a majority stake in the French aerospace manufacturer Lauak Group to expand its footprint in the European aerospace sector and enhance its global capabilities to support key industry players. WIN and the Charritton Family, founders of Lauak Group, have entered into an exclusive agreement at the Paris Air Show and the new entity will be christened Wipro Lauak. The transaction is expected to close in the coming months, subject to customary closing conditions. Founded in 1975, the French aerospace manufacturer Lauak Group specialises in sheet metal, machining, welding, piping, and assembly. Lauak produces a comprehensive range of products from elementary parts to complex assemblies in structure and engine components. Lauak is a 50-year-old, family-owned aerospace manufacturer, serving as a tier-1 supplier to major global aerospace companies. Pratik Kumar, CEO of WIN and MD of Wipro Enterprises, said, "This planned acquisition represents a significant moment in the continued growth of Wipro Aerospace. Lauak's rich legacy in aerospace and specialised expertise align with our long-term vision of building a fully integrated, global aerospace solutions platform." Mikel Charritton, CEO of Lauak Group, said, "Planning to join forces with Wipro offers an exciting opportunity to innovate and internationalise. Together, we will strengthen our position in the aerospace industry and continue delivering high-quality solutions to our customers worldwide." This proposed acquisition will reinforce Wipro's position as a trusted industrial partner in France, driving innovation, creating employment opportunities, and advancing the nation's strategic autonomy in aerospace. The terms of the transaction include the establishment of a Board of Directors comprising representatives from both sides. To ensure the long-term continuity of operations, Mikel Charritton will remain CEO of the company.
The Hindu
8 hours ago
- Business
- The Hindu
Wipro Infrastructure Engineering likely to acquire majority stake in French aerospace player Lauak Group
Wipro Infrastructure Engineering (WIN), engineering and manufacturing solutions arm of Wipro Ltd. and the Charritton Family, founders and current shareholders of Lauak Group, on Wednesday entered into an exclusive negotiation at the Paris Air Show for a majority stake acquisition in the company. However, financial details are not yet known. According to a communique from WIN, details of the proposed transaction were submitted to the relevant employee representative bodies for consultation, and all necessary approvals have now been received. The transaction is expected to close in the coming months, subject to customary closing conditions. Lauak Group is a 50-year-old, family-owned, and renowned French aerospace manufacturer, serving as a tier-1 supplier to major global aerospace companies. The proposed acquisition would reinforce Wipro's commitment to expanding its footprint in the European aerospace sector and enhancing its global capabilities to support key industry players, it said. Wipro further said, the Charritton family, shareholders of the LAUAK Group, have been engaged for several months in a strategic review of how best to secure the company's long-term future and development. Faced with changes in the aerospace sector and the emergence of new global players, this evolution of the group's shareholding structure with Wipro would be part of a broader industrial consolidation strategy. Pratik Kumar, CEO, Wipro Infrastructure Engineering and MD, Wipro Enterprises said, 'This planned acquisition represents a significant moment in the continued growth of Wipro Aerospace. Lauak's rich legacy in Aerospace and specialized expertise align with our long-term vision of building a fully integrated, global aerospace solutions platform.'' WIE is a diversified business, delivering deep expertise across Hydraulics, Industrial Automation, Aerospace, Water Treatment, and Additive Manufacturing. The Lauak Group is a French supplier to aircraft manufacturers.
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Business Standard
10 hours ago
- Business
- Business Standard
Wipro Infra to acquire majority stake in French aerospace major Lauak Group
Engineering and manufacturing solutions provider Wipro Infrastructure Engineering (WIN) on Wednesday said it will acquire a majority stake in French aircraft parts manufacturer Lauak Group. Lauak Group is a 50-year-old family-owned company supplying aircraft parts to major global aerospace companies. The company, however, did not divulge the quantum of stake and size of the deal. "Wipro Infrastructure Engineering (WIN), a leading global engineering and manufacturing solutions provider and the Charritton Family, founders and current shareholders of Lauak Group, announced today at the Paris Air Show that they have entered into exclusive negotiations for a majority stake acquisition in the company. "The proposed transaction was submitted to the relevant employee representative bodies for consultation, and all necessary approvals have now been received," a company statement said. The transaction is expected to close in the coming months, it said. Lauak Group and Wipro names would be combined to form Wipro Lauak. The deal will establish a joint Board of Directors with representatives from both Wipro and Lauak to oversee the company's future operations and growth. Lauak Group CEO Mikel Charritton will remain in his role. "This planned acquisition represents a significant moment in the continued growth of Wipro Aerospace. Lauak's rich legacy in Aerospace and specialised expertise aligns with our long-term vision of building a fully integrated, global aerospace solutions platform. Together, we would be positioned to deliver greater value, agility, and innovation to our customers worldwide," Pratik Kumar, CEO, Wipro Infrastructure Engineering, said.
