Telcon buys another Spanish firm

Telco Construction Equipment Company (Telcon), a subsidiary of Tata Motors, is buying 60 per cent stake in Spanish construction equipment company Comoplesa Lebrero SA for an undisclosed amount, according to a Telcon release.

This is the second acquisition by the company in a week, after it acquired 79 per cent stake in Spanish equipment company Serviplem on March 28.

Telcon is a joint venture of Tata Motors and Japan's Hitachi Construction Machinery.

Existing shareholders will hold the balance 40 per cent stake in Comoplesa.

Acquisition of Comoplesa Lebrero, a compaction equipment maker, will give Telcon access to the global market for fully-built machines.

Telcon has been supplying components to Comoplesa Lebrero for four years now. Comoplesa Lebrero, located in Zaragoza, is a market leader in Spain with its Lebrero brand in manufacturing, marketing and servicing of compaction equipment.