On December 4, Mahindra & Mahindra Limited, in a stock exchange filing, announced that Mahindra Overseas Investment Company (Mauritius) Limited (MOICML), a wholly owned subsidiary of the company, has sold part of its stake representing 3.58% of CIE Automotive S.A (CIE Spain) outstanding shares, for a total considerat
CIE Automotive, S.A. completed the acquisition of 100% of the share capital of Weidplas Brasil Indústria e Comércio De Plásticos, Ltda. (Techniplas Brazil) for an enterprise value of approximately EUR 65 million, following the clearance from the Brazilian antitrust authorities.
Formerly a subsidiary of the Techniplas
On June 17, CIE Automotive announced the acquisition of 100% of the share capital of Weidplas Brasil Indústria e Comércio De Plásticos, Ltda. (hereinafter, ‘Techniplas Brazil’), a Brazilian subsidiary of the Techniplas Group, for an enterprise value of around EUR 65 million.
Techniplas Brazil, based in Piracicaba (Sã
CIE Automotive S.A. has signed a EUR 20 million loan agreement with the Basque Finance Institute (IVF), a public entity attached to the Department of Economy and Finance of the Basque Government, to promote innovation, sustainability, and industrial growth in the Basque Country.
This follows a similar loan of the sam
On January 7, the U.S. Defense Department published its annually updated list of Chinese military companies, formally mandated under U.S. law as the "Section 1260H list", comprising a list of companies it says works with China’s military. U.S. lawmakers had pushed the Pentagon throughout 2024 to add certain Chinese c
CIE Automotive S.A. announced that its near-term and net zero greenhouse gas (GHG) emissions reduction targets have been validated by the Science Based Targets initiative (SBTi).
In the near-term targets, the company intends to reduce absolute scope 1 and 2 GHG emissions by 57.9% by 2033 (2021 baseline) and absolute
On May 31, the European Investment Bank (EIB) and CIE Automotive signed a loan worth EUR36 million to finance the company’s research, development, and innovation activities, as well as their application in the manufacture of high-value-added components for the automotive sector.
The financing will also support CIE Au
CIE Automotive S.A. announced the disposal of its forging business in Germany, selling it to Mutares SE & Co. KGaA with the aim of redirecting financial and management resources to higher return activities. 100% stake in (i) Schoeneweiss & Co. GmbH, (ii) Gesenkschmiede Schneider Gesellschaft mit beschränkter Haftung,
Mahindra CIE Automotive Limited announced that the application submitted by the company in prescribed form INC24 to the Central Government under Section 13(2) of the Act, seeking its approval for a change of name of the Company has been approved on May 15, 2023. The announcement came in further to the special resolut
In an investor update, Mahindra CIE Automotive (MCIE), a subsidiary company of CIE Automotive S.A., announced that during the CY 2022, a new forging and machining line was installed by Bill Forge to cater to EV transmission parts, and AEL (Aurangabad Electricals Limited) new plant to cater to 4-wheeler EV was complet
CIE Automotive announced the acquisition of 100% of the share capital of Iber-Oleff Brasil, Ltda. for EUR 20 million. The deal also includes the acquisition for approximately EUR 2 million of a plot of land adjacent to the factory, which the company will use for expansion. With around 400 employees and 2022 sales of
Mahindra CIE Automotive (MCIE), a subsidiary company of CIE Automotive S.A., announced that it has acquired shares of a local solar energy company, that will commission 2 solar power generation plants with a capacity of 7 MWp and 3 MWp to supply photovoltaic power to MCIE’s foundry division in Urse and magnetic produ
Mahindra CIE Automotive Ltd, a listed subsidiary of CIE Automotive S.A., Spain, announced that its board of directors has approved changing the name of the Company to “CIE Automotive India Limited”. The board also noted the change in name of its German Forging holding company i.e. Mahindra Forging Europe A.G. to CIE
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