New Delhi, Sept 2 (UNI) Strengthening its presence in the European market, leading auto component maker Ashok Minda Group today announced the acquisition of German interior component supplier Schenk Plastic Solutions.
''The company has signed an agreement to acquire Schenk Plastic Solutions'' Ashok Minda Group President Deepak Singhal told reporters.
Schenk is a supplier of plastic parts and components with plants in Esslingen and Bretten in Germany and Liberec in Czech Republic. It employs 500 people in the plants and has annual sales of 75 million euro.
This acquisition is Ashok Minda Group's second European acquisition. Last year, it had acquired another plastic interior plant at Pirna in Germany.
The Ashok Minda Group supplies security systems, driver information systems and plastic injection moulded interiors to many domestic as well as global OEMs. It currently has 21 plants in India and overseas countries, like Germany, Indonesia and Vietnam.
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