Auto component-maker Sona Koyo’s chairman recollects how he cleaned up and rescued his German acquisition
Surinder Kapur
AGE: 68
DESIGNATION: Chairman, Sona Group
THE CHALLENGE: Kapur acquired BLW, a German precision forgings company in February 2008. Three months later, the company was on the verge of insolvency. To save it from going under, he needed cash. But he didn’t have any money.
HOW HE DID IT: Kapur started by firing the management, taking charge himself, cleaning up the stockyards of all inventory, working closely with his customers and successfully negotiating wage cuts with his workers.
A drop in sales
(This story appears in the 14 September, 2012 issue of Forbes India. To visit our Archives, click here.)