The Ayala subsidiary buys a German industrial house
MANILA, Philippines – The Ayala conglomerate has strengthened its industrial arm with an agreement to acquire a majority stake in C-CON Group, a German engineering, design and manufacturing group specializing in the automotive sector.
A unit of Ayala’s wholly owned subsidiary, AC Industrial Technology Holdings Inc. (AC Industrials) on Wednesday announced an agreement to acquire 75.1% of the C-CON group.
The acquisition, which represented less than 10% of Ayala’s total capital, was carried out through MT Technologies, which is headquartered in Bavaria, Germany, and which has two production plants in Ingolstadt and at Kinding.
Founded in 1991 and with eight locations and over 200 employees across German automotive centers, C-CON and its subsidiaries provide design, development, engineering, manufacturing, series production and process management services. directly to the main German automotive suppliers (OEMs). These capabilities are intended to complement and strengthen MT’s existing skills in modeling, tooling and parts manufacturing.
C-CON has exclusive expertise in the production of carbon fiber reinforced polymer (CFRP) parts – described as a versatile material offering high strength, light weight and aesthetic advantages in several applications including automotive, l aerospace and industry.
Following the closing of the transaction, the C-CON group will be fully integrated with MT, enhancing the latter’s overall business proposition as an integrated supplier and partner to automakers throughout the industry value chain.
“The acquisition and integration of the C-CON group into MT is in line with AC Industrials’ strategies: to own, develop and bring to market potentially disruptive technologies aligned with global megatrends and to deepen our presence in the automotive space. global. C-CON significantly advances MT’s goal of providing end-to-end engineering, design and manufacturing services to its automotive customers, ”said Arthur Tan, President and CEO of AC Industrials Group, in a statement to the Philippine Stock Exchange.
“Beyond these, the addition of C-CON’s unique lightweight, high-strength carbon fiber technology further positions MT and AC Industrials to participate in the ongoing transformation of the mobility space, while by opening the potential of applications in new markets such as aerospace, marine, architecture and power generation, ”said Tan. / jpv
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