Grupo Antolin has signed a strategic partnership with Spanish technical moulder Walter Pack to enable Antolin to integrate decorative parts in its globally supplied car interior lighting products.
In the deal, Burgos, Spain-based Antolin, a world leader in the manufacture of vehicle interior components, is also acquiring a 40% stake in Walter Pack. Headquartered in Spain's Basque Country, Walter Pack runs six plants, two of them in India and another in Mexico.
Igorre, Spain-based Walter Pack is a specialist in the design and production of decorated components for the electronics and home appliance sectors as well as automotive applications.
Antolin said the new partners will combine their extensive knowledge and industrial experience to take advantage of the business potential of decorative parts for auto interiors. The aim of the deal is to develop integrated products with state-of-the-art technology.
“The partnership with Walter Pack will strengthen our product offer and consolidate Grupo Antolin's position as a global provider of automotive interiors. We want to help clients to develop more comfortable and more technologically advanced interiors”, commented Grupo Antolin chairman Ernesto Antolin.
In the future, the Spanish partners, who previously cooperated in the developing several projects with major car manufacturers, will collaborate in the area of R&D. They will search for technological innovations to add value to the interior parts of the vehicle, according to Antolin.
Walter Pack, with turnover worth €37m, employs a variety of technologies in its production process including injection moulding and thermoforming. It also offers a number of decorative techniques including silk screen printing, laser decoration, pad-printing, hot stamping and chroming.
With a workforce of more than 350, the firm operates three plants across Spain: at Igorre in the northern industrial belt of the Basque Country, in Barcelona and at Alicante. Its Indian facilities are located in Ranjangaon in Maharashtra state and in Manesar, Haryana state while it has a plant in Querétaro in Mexico serving clients in the Americas.
Its partner employs 28,000 with 151 plants in 25 countries worldwide, and had annual sales of €5.04 billion in 2017.