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Soon after purchasing the entire shareholding of Spain-based Clarton Horn, auto component maker Uno Minda today said it is in discussions to acquire “some European” firms in future.
Although the company has not finalised a deal yet, it is ready to invest Rs 250-300 crore for acquiring the target.
“We are talking to some European manufacturers of automobile components. Nothing has been finalised yet, but we are looking for a positive development,” K Minda, Chairman and MD Nirmal, Uno Minda said on the sidelines of a summit organised by auto industry bodies ACMA and SIAM here.
The company is negotiating with the companies present in the same field of operations as that of Uno Minda, he added.
He declined, however, to share details such as names of the firms and by when the deal is expected to be finalised.
When asked how much money the company will invest for the acquisition, Minda said: “We are comfortable to spend Rs 250-300 crore to acquire a firm.”
Last month, the company acquired 100 per cent shareholding of Clarton Horn SAU from PMAn Domestic AG, an entity affiliated to Quantum Kapital. The estimated cost of the acquisition was about €7.5 million.
Talking about the domestic operations, Minda said: “We are at present constructing four new manufacturing facilities. These will be catering to the demands of different vehicle makers across the country.”
Minda, however, did not share any investment figure for these four new under-construction facilities.
Uno Minda is setting up a new plant in Bangalore for the upcoming facility of Honda Motorcycle & Scooter India. While its two new units in Chennai will cater to Nissan and Ford’s requirements, the one in Gujarat will be for Maruti Suzuki’s new facility along with Tata Motors, Ford and Hero MotoCorp’s production units in the state.
On the company’s revenue, Minda said it clocked a total turnover of about Rs 3,000 crore and it is expecting a flat performance during this fiscal.
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