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Croatia's AD Plastik acquires Hungary's Tisza Automotive Kft.

Author Maja Garaca
Croatia's AD Plastik acquires Hungary's Tisza Automotive Kft. License: Creative Commons CC0

ZAGREB (Croatia), July 26 (SeeNews) - Croatian plastic goods producer AD Plastik said on Thursday it acquired 100% interest in Hungarian company Tisza Automotive Kft. for an undisclosed sum.

With this acquisition, AD Plastik is fulfilling its business strategy and medium-term development plan, while also ensuring further growth and expansion of its customer portfolio, it said in a Zagreb bourse filing.

Tisza Automotive is a plastic components manufacturer with more than 15 years of experience in the automotive industry. It is a leading supplier of the Suzuki factory in Hungary. Apart from Suzuki, its most important customers are Bentley and Volkswagen.

The company has more than 400 employees. Its production halls, warehouses and offices spread on 22,400 square meters.

In 2017, Tisza Automotive booked operating revenues in excess of 20 million euro ($23.4 million). The company plans to grow operating revenues within the next five years.

($=0.853832 euro)