The major construction company operating in India, the Telco Construction Equipment Company (Telcon), has recently made yet another acquisition within a period of one week. The company is actually a subsidiary company of the Tata Motors, that is focused on the construction equipment sector, and it has signed a definitive agreement with the Comoplesa Lebrero SA of Spain, for acquiring a controlling stake of 60% equity in the company. The company officials have informed that the Comoplesa Lebrero SA, is located in Zaragoza and it is one of the market leaders in Spain.
The Managing Director of Telcon, Mr. Ranveer Sinha has informed that the Comoplesa Lebrero is the owner of the Lebrero brand in the manufacturing, marketing and servicing of compaction equipment. Though he did not say anything about the amount of investment involved in this deal, he said, "Comoplesa Lebrero had generated 20 million euros (Rs 125 crore) revenues during the last financial year". He added, "This acquisition helps Telcon strengthen and add relevance to the last weeks Serviplem deal of enhancing product ogfferings in the road and general construction value chain".
The industry sources have informed that the company did acquire the over 79% stake in the one of the top six players in transit mixers, dry bulk tankers and pumps in the world, in the last week. The sources added that a dealing was already going on between the Lebrero and Telcon over the past four years in sourcing components for its products. The sources further informed that the Telcon is actually a joint venture company between the Tata Motors and Hitachi Construction Machinery Company of Japan, that is holding a 40 per cent in the JV.
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| Posted : 4/5/2008 |
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