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Tata Motors acquires Italian design house

Tata Motors acquires Italian design house
PTI
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First Published: Mon, Oct 04 2010. 09 10 PM IST
Updated: Mon, Oct 04 2010. 09 10 PM IST
New Delhi: Tata Motors Ltd said on Monday that it had acquired an 80% stake in Trilix Srl, an Italian design and engineering firm for €1.85 million (Rs 11.29 crore). The acquisition is in line with the company’s objective to enhance its styling and design capabilities to global standards, Tata Motors said in a statement. Milan-based LMS Studio Legale acted as legal advisors for the transaction.
Both companies have worked together in the past on several projects. Trilix has developed a strong understanding of the Tata brand and excellent working relationships with the company in several projects over the years, the statement added.
The remaining stake in Trilix is held by its promoters Federico Muzio and Justyn Norek.
With a turnover of €4 million and net profit of €2,50,000, the company offers design and engineering services in the automotive sector.
According to analysts, the acquisition is not a very significant one in terms of the deal size, but it will help Tata Motors enhance its design capabilities. However, since the company is looking forward to some new launches and re-launches, it may be in a positive direction, said Vaishali Jajoo, an analyst with Angel Broking Ltd.
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First Published: Mon, Oct 04 2010. 09 10 PM IST