Ayala Corporation and MT Technologies acquired 75% stake in C-CON Group.

MT Technologies, a group company of the large Philippines conglomerate Ayala Corporation, acquired 75.1% of the shares in Germany’s C-CON Group. Upon completion of the transaction, which still requires the approval of the antitrust authorities, C-CON will be fully integrated into MT Technologies. Financial terms were not disclosed. The acquisition strengthens MT Technologies' strategic position as a partner to the automotive industry along the entire value chain. The Ingolstadt-based supplier, incorporated in the the globally active AC Industrials, is thus in a position to offer automotive manufacturers seamless solutions. These range from virtual design, including physical implementation in model making, through series product design and engineering, to global series production. In particular, C-CON's competitive carbon fiber technology, which is ideal for lightweight construction, plays an important role in the automotive and transport sectors of the future by enabling sustainable mobility. Along with the automotive industry, MT Technologies and C-CON Group have particular potential in the aerospace, shipbuilding, architecture and power generation sectors.