Minda Industries (MIL), an automobile components manufacturer has completed the acquisition of Rinder India. The company now holds 100% equity shares of Rinder India. Global Mazinkert, a wholly owned subsidiary of MIL has acquired l00% shares of Light Systems and Technical Centre S.L. (LSTC) Spain. LSTC Spain, a 100% step down subsidiary of MIL, has acquired 50% stake in Rinder Riduco S.A., Columbia.
The company in March had acquired the global lighting business of Spain based Rinder Group that manufactures automotive lamps- Head Lamp, Tail Lamps and Small lamps. The acquisition included 100% equity holding in Rinder India and Light Systems and Technical Center, Spain along with 50% equity holding in Rinder Riducu, Colombia.
Minda Industries is engaged in the business of manufacturing switches and batteries for 2/3 wheelers and off-road vehicles.
