Tata Motors buys 80 per cent stake in Italian design firm Trilix
04 Oct 2010
Tata Motors has acquired 80 per cent stake in Trilix Srl, a design and engineering company based in Turin, Italy, for a around €1.85 million.
The remaining 20-per cent stake is equally held by its promoters Bryn Jones, Federico Muzio and Justyn Norek, Tata Motors said in a filing with the Bombay Stock Exchange (BSE).
Trilix offers design and engineering services in the automotive sector, specifically styling, architecture, packaging, surfacing, macro and micro feasibility, detailed engineering development. It also offers services like styling, surface sign-off etc as also computer-aided engineering 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," the filing noted.
In 2009, Trilix had a turnover of €4 million with an EBITDA of €540,000 and PAT of €250,000.
The acquisition is in line with the company's objective to enhance its styling/design capabilities to global standards.