DK Leather invest in Europe
Published: 15 May, 2006
D K Leather Corp Bhd's wholly owned subsidiary DK-Schweizer Europe BV plan to acquire a 20% stake in Italian automotive leather upholstery maker Salt SRL from Gavina Francesco for 600,000 euros. D K Leather also plan to take 50% of the equity in a new company called D K-Salt SRL for 250,000 euros. Salt SRL will take the remaining 50% in the company for the same sum.
DK Leather said the proposed acquisition would allow the company to penetrate the Italian and European market by working with a company with an established relationship with European automotive makers.
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