Automotive components supplier Mahindra CIE Automotive acquired Aurangabad Electricals, an aluminium die casting firm, for INR8.8bn ($126m). The acquisition will help Mahindra CIE foray into the aluminium die casting space, as well as strengthening its presence in the two-wheeler segment. The acquisition is expected to be completed by 10 April. Ander Arenaza, Chief Executive Officer of MCIE, says “This acquisition allows MCIE to enter the aluminum die casting technology. AEL´s complementary product and customer mix leads to further diversification of the business portfolio of MCIE India, strengthening especially our presence in the two-wheeler space. The company has very good manufacturing processes and internal controls and is run by a very capable team.”