Conglomerate Ayala Corporation, through its industrial holding firm AC Industrial Technology Holdings Inc. has recently taken hold of MT Misslbeck Technologies GmbH (MT). AC Industrials acquired a 94.9% stake in the German supplier of models, tools, and plastic parts maker for €26.8 million.

To be more specific on what MT Misslbeck does, the German company designs, creates, develops and manufactures injection moulds for both plastic and metal car parts. Apart from that, the company can also design and create entire cars, along with producing automotive plastic parts for both prototypes and production. Mt Misslbeck was established in 1869 and now has two plants, namely in Zwickau and Ingolstadt, each producing various parts.

Ayala said that the acquisition of MT Misslbeck is part of their industrial unit's strategy to assemble a better portfolio of businesses that 'develop, enable, manufacture and commercial automotive and other industrial technologies.' Prior to their acquisition of MT Misslbeck, AC Industrial signed a deal with KTM AG for the manufacturing and sales of motorcycles in the country back in 2016.

“This investment forms part of AC Industrials’ strategy to increase its competence and capabilities in the automotive value chain and will complement AC Industrials’ existing businesses in manufacturing services and vehicle distribution and dealerships,” Ayala said in a disclosure to the Philippine Stock Exchange.

Ayala's car dealership network throughout the country is also handled by AC Industrials. The group also holds distributorship interests in Honda Car Philippines, Isuzu Philippines Corp. and owns Automobile Central Enterprise, distributor of Volkswagen in the Philippines.