Glaverbel Group: expansion in Spain in the field of rear-view mirrors

Through the intermediary of its Spanish network, the Glaverbel Group has just acquired an 85% stake in the Guardiola company, specialised in producing mirrors for cars (interior and exterior mirrors, including sunvisor mirrors).

Guardiola has long had commercial relations with Miroiterie Hirtz, a French subsidiary of the Group, which provides it with semi-finished products for further processing to supply the Spanish market. After cutting and fabricating, Guardiola supplies the mirrors to mirror-system manufacturers who assemble the actual rear-view mirrors.

Under the present agreement, Guardiola will benefit directly from the expertise and R&D activities of Glaverbel and Miroiterie Hirtz in the field of mirrors. By acquiring control of Guardiola, Miroiterie Hirtz confirms its position in Spain, the third-largest automobile market in Europe.

The operation remains subject to the approval of the Spanish competition authorities.

600450 Glaverbel Group: expansion in Spain in the field of rear-view mirrors
Date: 9 May 2002
Source: Guardian

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