Telcon buys majority stake in Spanish firm

 Last week, Telcon had bought over 79% stake in Serviplem SA, a global top six player in transit mixers, dry bulk tankers and pumps.

Lebrero was already dealing with Telcon over the past four years in sourcing components for its products, said a press release.

Telcon is a joint venture between Tata Motors and Hitachi Construction Machinery Company of Japan, which holds 40 per cent in the JV.