Tata Group Company acquires another company in Europe

Mumbai, Apr 4 (UNI) Continuing its global grazing for acquisitions, the Tatas have found another candidate in Europe, with the group's Telco construction Equipment Company (Telcon), signing another deal in Spain, to take controlling stake in Comoplesa, Lebrero SA.

The acquisition would give access to compaction equipment technology for Telcon and Hitachi, to be fully exploited internationally, Telcon said in a release here today.

Telcon has acquired 60 per cent of the stakes in the Spanish construction equipment company with the balance being retained by the existing shareholders, who would continue to be associated with the centre.

Commenting on the move, Telcon Managing Director Ranaveer Singha said the acquisition speed would not defocus from its core business in India. It would, on the contrary, help Telcon to strengthen and add relevance to last week's Serviplem deal of enhancing product offerings in the road and general construction value chain.

He said Telcon, Hitachi and Lebrero would work together to identify opportunities and leverage their presence in the global market.

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