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Our Bureau

Mumbai , Aug. 24

TATA AutoComp Systems Ltd (TACO) has announced that it is acquiring the business and assets of Wundsch Weidinger, a German automotive company producing plastic parts and systems for the automobile industry.

Wundsch Weidinger had filed for insolvency in March 2005.

"TACO will be acquiring the business and assets of the company as well as its 270 employees, through its 100 per cent subsidiary set up in Germany for this purpose," an official statement said.

Weidinger's facility is located at Coburg in Bavaria, Germany. It offers development, a tool shop facility, precision injection moulding, surface enrichment and assembly operations. Customers include original equipment manufacturers such as Audi, Bentley, BMW, DaimlerChrysler, Volkswagen and Volvo.

The statement gave no details on the investment cost accruing to TACO for taking over the target company or how those funds would be structured.

However, it is understood that the assets of the German company were valued at 4 million euros and that the company would be renamed as TACO Kunstosf Technik Gmbh.

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