Mutares to acquire German forging business from CIE Automotive for €55m.

Mutares, a capital market company, agreed to acquire German forging business from CIE Automotive, an industrial group specialised in supplying components and subassemblies for the automotive market, for €55m. "This business was integrated into CIE in 2013, within the framework of the alliance with India's M&M. Over the last decade, we have worked to continuously improve its profitability and productivity, having achieved fully satisfactory results in this period." Jesús María Herrera, CIE Automotive CEO.