Tata Motors has acquired 80% stake in Italian design and engineering firm Trilix Srl for Rs 11.29 crore (1.85 million Euros). The remaining 20% is held by Trilix’s promoters Federico Muzio and Justyn Norek. Tata Motors say that this acquisition will help the company enhance its styling and design capabilities to match global standards. Tata also say that the two firms have worked together on several projects. Trilix offers design design and engineering services in the automotive sector such as styling, architecture, packaging and surfacing.
Hit the jump for press release.
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Press Release
Tata Motors acquires 80% stake in Trilix Srl., Italy
Tata Motors has acquired 80% stake in Trilix Srl., Turin (Italy), a design and engineering company, for a consideration of €1.85 million. The remaining 20% stake is equally held by its promoters, Mr. Bryn Jones, Mr. Federico Muzio and Mr. Justyn Norek. The acquisition is in line with the company’s objective to enhance its styling/design capabilities to global standards.
About Trilix
Trilix offers design and engineering services in the automotive sector, specifically styling, architecture, packaging, surfacing, macro and micro feasibility, detailed engineering development. Other services include physical models (styling, surface sign-off, etc.), CAE and manufacturing process feasibility. Trilix has over the years developed a strong understanding of the Tata brand and excellent working relationships with the company in several projects. In 2009, Trilix had a turnover of € 4 million with an EBITDA of € 540,000 and PAT of € 250,000.
LMS Studio Legale, Milan (Italy), acted as legal advisors to the Company for this transaction.
About Tata Motors
Tata Motors is India’s largest automobile company, with consolidated revenues of Rs. 92,519 crores ($ 20 billion) in 2009-10. Through subsidiaries and associate companies, Tata Motors has operations in the UK, South Korea, Thailand and Spain. Among them is Jaguar Land Rover, the business comprising the two iconic British brands. It also has an industrial joint venture with Fiat in India. With over 5.9 million Tata vehicles plying in India, Tata Motors is the country’s market leader in commercial vehicles and among the top three in passenger vehicles. It is also the world’s fourth largest truck manufacturer and the second largest bus manufacturer. Tata cars, buses and trucks are being marketed in several countries in Europe, Africa, the Middle East, South Asia, South East Asia and South America. (www.tatamotors.com
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