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.