Barcelona - Applus+, a leading Spanish multinational in testing, inspection, certification and technological services and one of the top ten in the sector worldwide, has today announced the signing of two strategic agreements in Brazil and India for the expansion of activity in its Applus+ IDIADA division, which specializes in technological services for the automotive industry. The agreements with High End, based in São Paulo and Curitiba, and Solutiioneyes Consultancy Servicess, based in Pune, will enable the company to consolidate its growth in two strategic emerging markets producing more than 5.5 million vehicles per year. “Applus+ has been making a determined bid for growth and internationalization and we are greatly pleased to start 2010 with the announcement of two such important agreements," said Joaquim Coello, CEO of Applus+ "We are committed to the development of Applus+ IDIADA in order to be where the industry needs us. In this sense, it is essential to have a strong presence in India and Brazil, two emerging markets which are crucial to the continuing growth in the automotive sector", concludes Coello. The activity of High End and the engineering division of Solutiioneyes Consultancy Servicess will be absorbed by Applus+ IDIADA. Specialized in design, testing, engineering and homologation services for the automotive industry this Applus+ division has over 900 employees and operates in 15 countries in Europe, America and Asia. Business outside Spain generates 70% of its turnover, which reached 75 million euros in 2009. Applus+ IDIADA was recently voted the best automotive testing company in the world by the prestigious magazine Automotive Testing Technology International. * * * * * High End Brazil is now the sixth largest producer of motor vehicles and makes more than 3.2 million cars a year. With offices in the two major industrial centers of the South American giant (São Paulo and Curitiba), more than 12 years of history and a staff of over 70 professionals, High End provides engineering and training services to the automotive sector. Applus+ has signed an agreement for the acquisition of High End, which will be integrated into the Applus+ IDIADA division, thus consolidating and expanding its presence in a strategic emerging market.
SolutiionEyes Consultancy Servicess Pvt. Ltd.
With head office in Pune, a major automotive industry hub in India, Solutiioneyes Consultancy Servicess - a company belonging to the S. Balan Group - specializes in engineering services for this sector and IT enabled services, and has a staff made up 80% by engineers. The agreement signed by the company provides for the acquisition by Applus+ IDIADA (through its Indian subsidiary) of the Engineering division of Solutiioneyes and the entry of the latter as a shareholder (24%) in the said Indian subsidiary of Applus+ IDIADA.
This joint venture will allow Applus+ IDIADA to consolidate its operations in India, where it has been present since 2006, expanding its customer portfolio and its operations base in the ninth largest vehicle market in the world. Applus+, a global company in testing, inspection and certification
Applus+ is a leading company in testing, inspection, certification and technological services. It is also one of the ten largest companies in the conformity assessment sector worldwide and the largest Spanish multinational in that industry. It is a global leader in the fields of vehicle inspection and non-destructive testing and is among the top European companies in inspection, technical assistance and laboratories. The company, whose CEO is Joaquim Coello, has a workforce of more than 10,000 people and had a turnover of €837M in 2008. Applus+, part of the The Carlyle Group portfolio since 2007, has operations on all five continents and provides services to more than 25 industrial and consumer sectors. # # # |
