Minda Group has 34 manufacturing plants and caters to customers in India, Europe, US, CIS and ASEAN countries
Minda Group has 34 manufacturing plants and caters to customers in India, Europe, US, CIS and ASEAN countries

Auto component major Minda to acquire Germany's Delvis for €21 million

ANI | Updated: Oct 09, 2019 16:47 IST

New Delhi [India], Oct 8 (ANI): Leading auto component manufacturer Minda Industries is acquiring 100 per cent equity capital of Germany-based Delvis Group for 21 million euros (about Rs 163 crore) to expand its product portfolio.
The Delvis Group is engaged in automotive lighting design and engineering. It comprises of Delvis GmBH and its two wholly-owned subsidiaries: Delvis Products and Delvis Solutions. In 2018, it clocked a turnover of 26.79 million euros (about Rs 208 crore).
"The acquisition is in line with the company's strategy to maintain technology leadership in lighting products market in India," Minda said in a statement. The transaction closing is subject to appropriate regulatory approvals. The estimated timeline for closure is two months.
Minda has a diversified product portfolio that encompasses safety, security and restraint systems; driver information and telematics systems and interior systems for auto original equipment manufacturers (OEMs). These products cater to two- and three-wheelers, passenger vehicles, commercial vehicles and after-market.
The company has 34 state-of-the-art manufacturing facilities to serve a diversified customer base including Indian and global OEMs and tier-1 customers for various vehicle segments spread across Europe, North and South America, and Asia.(ANI)

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