Spanish auto parts manufacturer Teknia Manufacturing Group SL has announced it has acquired the Serbian plastics injection molding and metal stamping business Promotor Irva Ltd. in Kragujevac.
The takeover follows a year and a half of studies and market analysis by Madrid-based Teknia and is a move in line with its strategy of localization of plants in its vehicle windscreen products division, according to the firm.
A strategic growth program for the Serbian plant will be led by personnel at Teknia's Manresa production unit at Manresa, Spain. They will provide the necessary training and skills in the areas of stamped metal parts and overmolding for windscreen wipers, explained Sergi Gonfaus, director responsible for the Manresa and Serbian operations.
The project will secure sustainable growth for the Manresa business, while developing new products and customers, he added.
Promotor Irva plant has specialized in component production, chiefly for automotive hydraulic jacks mainly for local Opel assembly plants.
Teknia, which runs a total of 16 plants in Europe, Asia and the Americas, is active in three component manufacturing divisions of plastics, metallic and machining processes. The plastics business has horizontal and vertical injection molding machines up to 2,700 tonnes along with over molding and 2 thousand injection lines.
Three months ago, the Spanish group was completing the construction of a new 2,000 square meter production hall at its recently launched injection molding plant at Nivnice, Czech Republic. This has allowed the business to expand its molding area as well as raising the local painting capacity.
