Global automotive component manufacturer Spark Minda, Ashok Minda Group announced the acquisition of Panalfa Autoelektrik Ltd through its flagship company, Minda Corporation Ltd. The Group
has acquired 100 per cent equity of Panalfa Autoelektrik Ltd.
Panalfa Autoelektrik primarily manufactures ‘Reduction Gear Starter Motors’ and ‘Alternators’. The company is dealing with end markets of agriculture machinery, stationary engine, construction equipment and automotive market worldwide and has some of the key companies in India as customers such as Eicher, Escorts, Greaves, HMT, Magneton, New Holland, Polaris, Sonalika and TAFE.
With the acquisition of Panalfa Autoelektrik, the Group further strengthens its presence in product portfolio and footprints in agriculture machinery, stationary engine, construction equipment and automotive market. The Group will leverage on this acquisition to offer a better value proposition to its customers in commercial vehicles and other segments.
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