Cie Eyes Smaller Businesses To Strengthen Its Presence Overseas

Spanish parts maker Cie Automotive will sell its stake in its Brazilian subsidiary Autometal by H111 to finance new acquisitions in South America's biggest autos market. The firm currently relies on Europe for as much as 60% of its total revenue, which resulted in a more than 20% year-on-year (y-o-y) fall in its revenue in 2009. It is accordingly focussing on increasing its presence in key emerging markets - Brazil, Russia, Turkey, India and China - to help it offset its losses at home.

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