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Cahors Group’s external growth operation on the South American continent
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The Cahors Group is continuing its international development. After having confirmed the setting up of its activities in China in 2000, the Group has just acquired, in the summer of 2003, a new subsidiary on the South American continent, in Uruguay, to complete and strengthen its presence on markets abroad.
Acquisition Conditions
This buyout, done through the Spanish subsidiary Cahors Española, concerns 50% of the capital of the Uruguayan company DIETAL URUGUAY, specialized in the manufacture of sheet moulding compound (SMC) public lighting products, whose activity had ceased.
Two complementary partners are associated with this operation, each with a 25% holding; the chairman of the new entity “Cahors Uruguay” will be appointed by the Uruguayan partner; MAEC holds the majority on the board of directors.
Re-launching the business
The commercial activity will be relaunched at the end of 2003. Production will be redirected around the range of cabinets in composite material and Low Voltage electrical distribution equipment, which the Group already produces in large amounts in Europe and Asia. The development of Cahors Uruguay will be put under the responsibility of Mr. Iñaki Millan. This new industrial unit is aimed at strengthening and balancing the international establishment of the Cahors Group’s productive machinery, which is now present on four continents.
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