Yet another Tata acquisition in Europe. Telco Construction Equipment Company (Telcon) signs another deal in Spain. Deal for controlling stake in Comoplesa Lebrero SA, a European construction equipment company based in Zaragoza, Spain. Gives access to compaction equipment technology for Telcon and Hitachi. To be fully exploited internationally.

Telco Construction Equipment Company, a leader in the construction equipment sector in India, signed an agreement with the existing shareholders of Comoplesa Lebrero SA, Spain for acquisition of their 60 per cent stake in the company. The balances will be retained by the existing shareholders who will continue to be associated with the venture.

Speaking on the occasion of signing the agreement, Ranaveer Sinha, managing director of Telcon, allayed fears that the acquisition speed will defocus Telcon from its core business in India. He said that in fact this acquisition helps Telcon strengthen and add relevance to the last week’s Serviplem deal of enhancing product offerings in the road and general construction value chain.

Sinha said that Telcon, Hitachi and Lebrero will work together to identify opportunities and leverage their presence in the global market. Lebrero was already dealing with Telcon over the past four years in sourcing components for its products and this acquisition is expected to only strengthen the association further. Telcon can now look at fully-built machines for the global markets.

The Aragon region in Spain seems to be the choice of the Tata Group and Telcon to enhance their presence. The region can now boast of partnership with Hispano Carrocera SA, Serviplem SA and now Comoplesa Lebrero SA.

The above mentioned agreement has been presented to the Aragon Government and has been supported along the process by Aragon exterior.