Industry / Brazil
More Acquisitions For CIE
September 2006 | Industry NewsBasque car parts manufacturer CIE Automotive continues to build upon its plans for global expansion. The company has invested EUR19mn to acquire 53.63% of the voting rights in the Brazilian company Durametal. Durametal enjoys a strong position in the Brazilian market and has a strong foothold in the US. It specialises in the manufacture of drums, hubs and brake discs. CIE is seeking to steer the joint venture into a leading global position in this segment.
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