Stanley Engineered Fastening India (SEFI) sold its two-wheeler functional plastics division to JRG Automotive Industries Private Limited. The deal, which expands JRG’s manufacturing presence in South India, includes two operational manufacturing facilities in Manesar, Haryana, and Bangalore.

The acquired SEFI division produces plastic injection-moulded components for two-wheeler OEMs, construction equipment manufacturers, and Tier-1 two-wheeler suppliers across India.

SEFI, a subsidiary of Stanley Black & Decker, Inc., will continue its core operations in engineered metals and plastic fastening solutions at its Chennai and Bangalore factories.

JRG Automotive Industries, which manufactures plastic components for the automotive and defense sectors, aims to double its revenue in the current year through domestic and international joint ventures and acquisitions.

The deal comes weeks after Stanley Black & Decker signaled its plan to shop its $1.2 billion Engineered Fastening business in 2025.

Stanley Engineered Fastening supplies the aerospace, automotive, construction, energy and medical industries. Organic revenues rose 2% in the second quarter of 2024, driven by aerospace growth which offset market softness in automotive and general industrial. In the opening quarter, Engineered Fastening organic revenues rose 5%.

Stanley Engineered Fastening operates 79 facilities around the world, including 28 in Asia (including 10 in Japan, five in China and four in India); three in Central and South America; 14 in Europe, Middle East & Africa; and 34 in North America, including 29 in the U.S.