Uno Minda takes over Spain’s Clarton Horn

Uno Minda, N K Minda Group, has acquired 100pc shares of Clarton Horn S.A.U., Spain from PMAn Domestic AG, an entity affiliated to Quantum Kapital on April 15, 2013.The estimated cost of the acquisition is Euro 7.5 million approx. It is to be mentioned that Clarton Horn has a manufacturing plant in La Carolina, Spain. It has a small setup in Morocco to cater to the African Market, with sales Offices in Brazil, France, Germany and Korea. It manufactures Trumpet Horns, Disc Horns and Electronic Horns. Clarton Horn is a leading manufacturer of automotive electronic horns, supplying to all major OEMs in Europe. This strategic acquisition has positioned UNO Minda amongst the top two horn manufacturers in the world. The transaction is financed through debt and internal accruals. All legal and statutory approvals have been obtained.