Indo increases its shareholding in Diamonex Cb Medical to 100%

Indo Internacional, SA, which held 80.68% of the Italian company Diamonex CB Medical Srl, has increased its shareholding in the firm to 100%.

Indo bought the 19.32% shareholding and increased Diamonex's share capital to give the Italian subsidiary the resources it needs for its projection in the future. The operation involved an outlay of € 1,200,000. Diamonex CB Medical, which will now be called Indo Italia Srl, markets the Spanish group's lenses and equipment on the Italian market.

Located in Milan, Indo Italia has a staff of 20 and invoiced more than € 2,500,000 in 2005. The objective of the purchase is to further integrate the Italian firm in the Indo Group's global strategy and create a closer relationship with Italian customers.

With this purchase, Indo continues its internationalization strategy, which is based on selective acquisitions in strategic markets. As a result of this policy, 32% of Indo's sales are now made on the international market.