The Korean firm Global SM Tech Limited – GSM – has acquired Industrias Gol, a company that specialises in cold stamped parts for the automotive sector, until now a part of the Alfa Group, which has two plants in the Basque Country and one in Romania. Grupo Alfa has signed the sale of the company to the Korean firm GSM for 22 million euros, thereby concluding negotiations that began over a year ago.
Industrias Gol, with a workforce of 120 employees, will become part of a multinational like GSM, which has 14 factories in 5 Asian countries, 500 employees and turnover of €68m. It supplies precision fasteners and other components for domestic appliances, audiovisual equipment, mobile phones, machinery and the automotive and aeronautical sectors.
This operation is part of the strategy adopted by Grupo Alfa last year, to reduce the companies in the group from ten to six, as well as significant management changes.