Ayala unit buys German auto supplier MT Misslbeck

AC Industrial Technology Holdings Inc (AC Industrials), through AC Industrials (Singapore) Pte. Ltd, signed the acquisition of 94.9 per cent of MT in a deal valued 26.8 million euro based on total enterprise value. The closing of the transaction is subject to completion conditions and regulatory approval.
“This investment forms part of AC Industrials’ strategy to increase its competence and capabilities in the automotive value chain and will complement AC Industrials’ existing businesses in manufacturing services and vehicle distribution and dealerships,” Ayala said in a disclosure to the Philippine Stock Exchange yesterday.
MT supplies automotive original equipment manufacturers (OEMs) and automobile tier 1 suppliers. The company, which traces its roots to a workshop established in 1869, has production plants in Ingolstadt, Germany.
The company designs and creates models of entire cars or parts of a car, develops, designs and manufactures injection moulds for metal and plastic car parts, and produces automotive plastic parts for prototyping and serial production.
Ayala said that since the formation of this wholly-owned industrial unit last year, AC Industrials has “actively pursued investments as part of its strategy to assemble a portfolio of businesses that develop, enable, manufacture, and commercialize automotive and other industrial technologies.”
In April 2016, AC Industrials signed a partnership agreement with Austrian motorcycle manufacturer KTM AG for the production and distribution of motorcycles in the Philippines.
Last year, AC Industrials, through Integrated Micro-Electronics Inc (IMI) acquired a 76 per cent stake in VIA Optronics, a German-based display solutions provider. Finally, in May, IMI completed the acquisition of an 80 percent stake in STI Enterprises Limited, an electronics design and manufacturing solutions company based in the United Kingdom.
Ayala has consolidated its car dealership and industrial operations into AC Industrials, which in turn seeks to play a bigger role in manufacturing and contribute to the country’s rise into a Southeast Asian industrial hub.
AC Industrials also houses Ayala’s car dealership businesses across the Honda, Isuzu, and Volkswagen brands apart from the existing and future assets of IMI. Apart from the KTM business, also holds distributorship interests such as the 13 per cent stake in Honda Cars Philippines Inc, among others.