The small appliance manufacturer Taurus has bought Nifco Products España, a subsidiary of the Japanese group Nifco, based in Terrassa, with an investment of 11 million euros. The operation facilitates the entry of the Oliana (Lleida) company into the automotive sector.
Taurus plans to invest in the short term about five million euros in Nifco Products España, a specialist in the industrialization and injection of functional plastic components for the automotive sector, to strengthen its business. The goal is for the new division, which will be renamed Tag Automotive, to reach a turnover of 30 million euros within three years and contribute to boosting the electric vehicle industry in ambitious projects "such as the new modular electric driving platform developed for the Volkswagen Group's ID range, which will establish its global electric mobility center in Spain," according to Taurus.
The new Tag Automotive is a manufacturer with a global position and supplies products to international brands such as Seat, Audi, Volkswagen, Nissan, Volvo, and Grupo Antolín. Based in Terrassa (Barcelona), where it has facilities of 11,748 square meters and a workforce of 167 employees that Taurus will maintain, just as it guarantees the continuity of Nifco Products' current management team.
This operation is part of the Taurus group's innovation and reindustrialization plan in Europe ---according to the company---, which focuses on Industry 4.0 and represents for the Oliana firm "another step in the diversification of leading businesses that provide it with know-how to continue consolidating its position in Europe." As a small appliance manufacturer, it produces and distributes articles under the brands Mycook, Solac, Casals, Minimoka, Coffeemotion, Winsor, Taurus Professional, White&Brown, Alpatec, Inalsa, Práctika, and Turmix.
As part of its diversification policy, in early 2020, the Taurus group acquired the French brand Supra, to position itself in the biomass sector with an extensive range of fireplaces and heating systems.
The small appliance manufacturer, founded in 1962, closed the 2020 fiscal year with 219 million euros in turnover, 6.78% more than in 2019, and an ebitda, earnings before interest, taxes, depreciation, and amortization, of 19.2 million, compared to 18.2 million in 2019. It has a presence in more than 120 countries and has operational subsidiaries in 10 markets.
In January 2021, the company announced an investment of four million euros in a new 15,000 square meter operations center at its Oliana plant, with the aim of consolidating the group's logistics hub to supply the European market. Taurus' forecasts for 2021 are positive and consolidated growth is expected to be maintained, as recently stated by its general director, Enric Tria.