Minda Industries acquires 100% shares of Clarton Horn

For Euro 6.8 million

Minda Industries has acquired 100% shares of Clarton Horn S.A.U., Spain from PMAn Domestic AG, Germany on 15 April 2013 for Euro 6.8 million.

Clarton Horn is a leading manufacturer of automotive electronic horns supplying to all major OEMs in Europe. Clarton Horn has a manufacturing plant in La Carolina, Spain and sales office in Germany.

The annual turnover of Clarton Horn for the year 2012 was Euro 38 million. After the acquisition from Robert Bosch GmbH in 2008 by Quantum Capital AG, the company underwent a successful turnaround with the support of the Quantum management team and has become the world's second largest manufacturer of automotive horns.

 

This acquisition is a major step in the company's strategy to become a global player in automotive horns.

The company made this announcement during the trading hours today, 16 April 2013.

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