Hispano Carrocera S.A. (HC), a well-known Spanish bus manufacturing company, in which the Company had acquired a 21% stake in March 2005 was another major step in the Company’s plans for globalization. Hispano has two manufacturing units, one in Spain which caters to the European market and the other one in Casablanca which caters to the Moroccan and other North African markets. HC is present in both the 'city bus' and 'coach market' segment in both the geographies. HC reported sale of 271 units for the period January 2008 to March 2009.
In October 2009, Tata Motors acquired the remaining 79% shares in HC by way of exercise of the existing call option, through mutual agreement with the other share-holder, Investalia S. A, Spain. [www.hispano-net.com]
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