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Grupo Industrial Saltillo SAB eyes auto parts expansion in Europe

Auto News - Published on Mon, 20 Aug 2018

Image Source: Grupo Industrial Saltillo
REUTERS reported that Mexican conglomerate Grupo Industrial Saltillo SAB de CV is considering more acquisitions in Europe to expand its auto parts division. Chief Executive Jose Manuel Arana said in an interview this week that GIS hoped to build on its recent expansion on the continent. GIS acquired auto parts companies Automotive Components Europe in 2015 for USD 80 million and Spain-based Grupo Infun a year later for 280 million euros.

Mr Arana said that "Our intention is ... to continue analyzing global growth in 2019.”

GIS has said North America will continue to be important for its auto parts division, even if rules are changed under an updated North American Free Trade Agreement.

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Posted By : Joykumar Irom on Mon, 20 Aug 2018
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