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GMSA acquires share in Midas Group
Posted on: Friday, 21 April 2006. Article source: The Herald
General Motors SA has acquired a share in auto parts supplier Midas Group.
The exact stake has not been released, although this is between 20% and 15%, according to a Midas spokesman.
GMSA has been introduced as a value-adding global procurement partner and provides Midas with the exclusive distribution rights to the ACDelco all-makes range of products.
This, Midas said, concluded a long-term strategy of having a balanced, value-adding shareholding structure to underpin the group. Midas said GMSA had identified Midas as the “leader with the most robust business model that has stood the test of time and is the most resilient model to serve the South African automotive independent aftermarket’s needs”.
As Midas management identified market opportunities for ACDelco, the product ranges would be introduced.
ACDelco “has a no-questions-asked original equipment quality position that is well respected” says Midas.
The exact stake has not been released, although this is between 20% and 15%, according to a Midas spokesman.
GMSA has been introduced as a value-adding global procurement partner and provides Midas with the exclusive distribution rights to the ACDelco all-makes range of products.
This, Midas said, concluded a long-term strategy of having a balanced, value-adding shareholding structure to underpin the group. Midas said GMSA had identified Midas as the “leader with the most robust business model that has stood the test of time and is the most resilient model to serve the South African automotive independent aftermarket’s needs”.
As Midas management identified market opportunities for ACDelco, the product ranges would be introduced.
ACDelco “has a no-questions-asked original equipment quality position that is well respected” says Midas.
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