DK 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. DK Leather also plan to take 50% of the equity in a new company called D K-Salt SRL for €250,000. 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.
