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| Exchange Disseminated Time | Minda Industries Ltd has informed BSE that the Company has acquired 100% shares of Clarton Horn S.A.U., Spain from PMAn Domestic AG, Germany on April 15, 2013 for Euro 6.8 million.
The Company, Clarton Horn is a leading manufacturer of automotive electronic horns supplying to all major OEMs in Europe. Clarton Horn has a manufacturing plant in La Carolina, Spain and Sales Office in Germany. The Annual Turnover of Clarton Horn for 2012 was Euro 38 million. After the acquisition from Robert Bosch GmbH in 2008 by Quantum Capital AG, the Company underwent a successful turnaround with the support of the Quantum management team and has become the World’s second largest manufacturer of automotive horns.
This acquisition is a major step in the Company's strategy to become a global player in automotive horns. |
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