Tata Motors has bought an 80 per cent stake in Italy-based Trilix Srl, a design and engineering company for ¤1.85 million (Rs 11 crore).
The remaining 20 per cent stake is equally held by the promoters of the target company, stated a release sent by Tata Motors to the Bombay Stock Exchange.
“The acquisition is in line with the company's objective to enhance its styling/design capabilities to global standards,” the company added.
Trilix offers design and engineering services in the automotive sector, specifically styling, architecture, packaging, surfacing, macro and micro feasibility and detailed engineering development.
The Turin-based company has had a relationship with Tata Motors, as it has worked on several projects. The company has a turnover of ¤4 million.