BRUGOS, SPAIN (Feb. 8, 2:15 p.m. ET) — Automotive interiors company Grupo Antolin has acquired the business of Italian car interior trim company CRS srl, days after it announced the official opening of its second plant in Slovakia.
Group Antolin's acquisition of CRS, which produces inserts for inserts for instrument panels, door panels and pillars, as well as moulds and tools for these processes, marks the start of the Spanish company's expansion into Italy. It has formed a new company, Grupo Antolin-Italy, which will centralize production, as well as technical and commercial operations in the country.
CRS' production plant is based in Pinerolo, Italy, employs 47 and it is expected to have 2012 sales of $10.6 million to $13 million, Antolin said in a Feb. 1 news release.
The purchase of the CRS business along with the recent acquisition of European lighting supplier CML Innovative Technologies, has allowed the group to expand its presence to 25 countries.
Previously, Antolin announced it had opened a plant for modular headliners and door panels production in Nededza (Zilina), Slovakia, where Kia Motors Slovakia is located. The plant has a staff of 90.