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Minda Industries which is an auto components manufacturer, has acquired the global automotive lighting business of Spain based Rinder Group for 20 million euros (over Rs 145 crore).
N K Minda, the Chairman of Uno Minda Group said that “This acquisition will give us immense advantage technology wise in lighting solutions and will further augment the R&D Capabilities of the company. With this acquisition the company’s lighting business will have turnover in excess of Rs 700 crore.”
He further added that the lighting business turnover is presently around Rs 300 crore.
He said that “Our vision is to achieve 25 percent of group turnover from international business. The overseas leg of this global acquisition will ensure that the company moves closer to its vision and expand its geographical footprints further.”
