Taurus accelerates its entry into the automotive sector with the acquisition of Class Plastics

Taurus intensifies its strategy to become a benchmark in the automotive industry in Catalonia with its second corporate acquisition in less than three months. The small appliance manufacturer has announced the acquisition of Class Plastic, a manufacturer of plastic injection parts for automotive, retail distribution, and healthcare. The transaction of this productive unit has involved an investment of 825,000 euros.

This purchase adds to the one made in January, with the incorporation of the assets of Nifco Products España, a subsidiary of the Japanese group Nifco, based in Terrassa, with an investment of 11 million euros.

Based in Martorelles (Barcelona) and a workforce of 62 employees, Class Plastics will provide TAG Automotive with greater production capacity, which will now have two production sites ---Terrassa and Martorelles--- and a logistics warehouse in Rubí. Thanks to the growth of assets and facilities, the company will be able to develop the challenges of this new stage where TAG Automotive will take part in the electric vehicle industry in ambitious projects such as the new modular electric drive platform (MEB) developed for the Volkswagen group's ID range, which will establish its global electric mobility center in Spain, as communicated.

Taurus expects that the synergies between both productive units will accelerate the growth of TAG Automotive, with the aim of reaching a turnover of 30 million euros in two years and setting the goal of exceeding 50 million in 2026.

Likewise, the company owned by Raul Ubric and Joan Basagaña ---who are also the group's CEOs--- believes that the operation accelerates Taurus' reindustrialization plan to manufacture part of its products, currently made by third parties in Asian countries, in local plants, and that it is part of the company's 2020-2025 Strategic Plan with the expansion of its manufacturing capacity. The manufacturer from Oliana (Lleida) consolidates its strategy of diversifying into benchmark businesses that provide it with know-how to continue consolidating its position in Europe.