BURGOS, SPAIN (Nov. 29, 12:15 p.m. ET) — Spanish automotive components supplier, Grupo Antolin, has agreed to acquire CML Innovative Technologies, a vehicle lighting systems company.
Antolin, which makes seating and interior parts, said in an Oct. 14 news release that this acquisition will make it one of Europe's market leaders in this field.
CML is based in Besançon, France. It has two research & development centers and seven plants located in Czech Republic, France, Germany, Romania, the UK and China that employ nearly 1,000.
Burgos-based Antolin said CML will generate a consolidated sales of more than 110 million euros in 2011. The company develops and supplies interior lighting consoles, ambient lighting, day running lights and LED's solutions for a wide range of applications.
Antolin has also been working on setting up a joint venture in north China with Japanese PU foam processor Inoac Corp. and Chinese company NBHX (Ningbo Huaxiang Electronic). The Spanish group said it already has ten sites in China, and aims through the JV to “continue with our important expansion in China.”
The alliance will be “the only business platform for all three parties in the territory,” and could offer synergies regarding efficient investment and consolidation of commercial resources in the north of China, according to Antolin.