Telcon acquires 60 percent stake in Lebrero

By Chris Sleight10 April 2008

Telcon, India's largest construction equipment manufacturer, has acquired a 60% stake in Spanish road building equipment maker Lebrero. It is the second acquisition that Telcon has made in Spain in the space of a week, following its acquisition of a 79% holding in truck mixer maker Serviplem.

Speaking at the signing of agreement, Telcon managing director Ranaveer Sinha said the speed of its acquisitions would not detract from the company's core focus on the Indian market.

"This acquisition helps Telcon strengthen and add relevance to the Serviplem deal of enhancing product offerings in the road and general construction value chain," the company said in a statement.

Telcon, a 40:60 joint venture between Hitachi Construction Machinery and Indian conglomerate Tata Motors has set out a plan to achieve US$ 2 billion in revenues by 2012. Tata already has a presence in Spain through a partnership with bus body company Hispano Carrocera.

Latest News
Diamond Scaffold Services retains merger-and-acquisition specialist for its sale
Southern scaffolder with a seasoned management team and solid workforce plans a sale to properly capitalize the business to continue its growth strategy
Webuild has US$12 billion Australian order backlog after acquisition
Deal means that WeBuild take on staff and order backlog from Australian engineering and construction company
Weak housing demand prompts turnaround plan for Skanska and Ikea’s modular homes arm
Weakening demand for affordable housing has prompted Skanska to launch a turnaround plan for its modular homes arm BoKlok, which it runs in partnership with Ikea.