20 October, 2009
Tata Motors, which had a 21% stake in Hispano Carrocera S. A., Spain, since 2005, has acquired the remaining 79% shares in Hispano by way of exercise of the existing call option, through mutual agreement with the other share-holder, Investalia S. A, Spain. This acquisition demonstrates Tata Motors’ ongoing commitment to Hispano Carrocera.
After the acquisition, the company will further strengthen the ongoing initiatives to improve operational efficiencies such as productivity improvement, cost reduction, and new product development, to improve market share of the company and enhance brand value. Tata Motors is confident that Hispano will now emerge as an even stronger force in the Spanish as well as Global bus and coach markets.
About Tata Motors:
Tata Motors is India’s largest automobile company, with consolidated revenues of INR 70,938.85 crores ($ 14 billion) in 2008-09. Through subsidiaries and associate companies, Tata Motors has operations in the UK, South Korea, Thailand and Spain. Among them is Jaguar Land Rover, the business comprising the two iconic British brands. It also has an industrial joint venture with Fiat in India. With over 4 million Tata vehicles plying in India, Tata Motors is the country’s market leader in commercial vehicles and among the top three in passenger vehicles. It is also the world’s fourth largest truck manufacturer and the second largest bus manufacturer. Tata cars, buses and trucks are being marketed in several countries in Europe, Africa, the Middle East, South Asia, South East Asia and South America. (www.tatamotors.com )
