Pilkington Automotive, which has its European distribution centre at Redditch, near Birmingham, has acquired GIMA, an after-market supplier in Romania and Hungary.
The UK company, part of Japan“s NS…
Pilkington Automotive, which has its European distribution centre at Redditch, near Birmingham, has acquired GIMA, an after-market supplier in Romania and Hungary. The UK company, part of Japan“s NSG, has paid an undisclosed amount for the two firms headquartered in Budapest in Hungary and Cluj in Romania. GIMA, which employs 275 people, supplies the after-market with windscreens, side glazing and back light glass through its five outlets in Hungary and 21 in Romania. It also exports a small amount of glass to Moldova and the Ukraine. Tony Fradgley, director of Pilkington Automotive Glass Replacement for the European region, said: “GIMA is a mature company operating successfully in markets which are evolving dynamically”. “Following the EU accession, the economic environment in this part of Europe is one of opportunity”. “As well as increased numbers of vehicles, we are seeing an increase in consumer choice as markets open up. We have a well established capability and supply chain to complement this acquisition. The overall strategy for the group is to grow profitably in emerging markets”. Pilkington said it hopes to supply more of its glass into this after-market as a result of the acquisitions. Mr Fradgley said Pilkington wanted to enter Eastern Europe to benefit from the growing number of vehicles as the countries became more affluent. Romania is forecast to see its number of vehicles increase by around five percent a year, far higher than growth excess of the UK market. “Hungary is a bit more advanced – it entered the European Union earlier and its GDP is higher, so our growth expectations are more conservative. But the growth in both markets will be more than in the UK”. Pilkington, which employs 135 people at Redditch, said it would merge GIMA“s operations with its existing ones in Romania and Hungary. It has bought the firm from the Takacs family, which set up the business in the mid 1980s. Founder Peter Takacs Snr will retire from the business, while his son Peter Takacs Jnr will remain as general manager of the combined entity.