Indian automotive parts maker Tata AutoComp Systems Ltd. will buy German auto parts firm Wundsch Weidinger for €4 million ($US4.9 million), Tata told Reuters on Wednesday.
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The news agency reorted that Tata AutoComp, a unit of India’s top truck and bus maker Tata Motors, said the acquisition would help build a stronger base for its interiors business globally.
Reuters said the Coburg, Bavaria-based firm, which filed for insolvency in March, produces plastic parts and systems and its clients include Volkswagen, BMW, DaimlerChrysler and Volvo.
Tata AutoComp makes seating systems, plastic interiors and exterior parts, radiators, lighting systems and braking systems, the news agency noted.
“This acquisition would provide access to the European market for the interiors business,” Tata AutoComp said in a statement cited by Reuters.
The report said Tata AutoComp clients include India’s Ashok Leyland and Mahindra & Mahindra, DaimlerChrysler, Fiat, Ford, General Motors, Honda Motor, Hyundai and Toyota.
Reuters noted that Indian auto parts firms are looking for overseas targets to get a bigger share of the global market for components and added that a Tata Motors subsidiary, Tata Technologies, last week agreed to buy UK design and engineering firm INCAT Technologies for about $97 million.
