Yesterday Mutares announced that it has signed an agreement to acquire an 80% stake in Plati Elettroforniture (Plati) from Chinese Deren Group. The acquisition of this internationally active supplier of cable harnesses to the automotive, consumer goods, healthcare and telecommunications sectors is expected to close by June 2019.
The company is headquartered in Italy, and operates subsidiaries in Poland, Ukraine, Hungary and Morocco. Plati generated sales of €38m in FY18 and has around 850 employees at its five sites. Deren Group will continue to be Plati’s strategic partner for its development in Asia.
This is the fourth acquisition made by Mutares in 2019, and third add-on investment. The company hopes that Plati will strengthen its automotive and mobility segment. Elastomer Solutions is a manufacturer of rubber and thermoplastic components to automotive sector.
Author: Milosz Papst