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Minda Inds in talks to buy 3 European firms Auto parts maker Minda Industries Ltd is in acquisition talks with three companies in Europe and has set aside about 100 million euros for the purchases, a top official told Reuters on Tuesday. "The discussions are on with at least three companies...in the next two quarters we are hopeful that we will pull off 1 to 2 acquisitions," Managing Director NK Minda said. The target companies were all related to Minda's product line. "We can really add value to our products and product line through these buys," he said. The acquisitions will be financed through a mix of internal accruals and debt, Minda added. The technology from these buys will help Minda in executing outsourcing orders from overseas car manufacturers. In May, Minda Industries had bagged orders worth 500 million rupee from Volkswagen to supply headlamps and rear combination lamps for its upcoming models. The company said it was in talks with foreign auto makers like Nissan Motor Co for orders. Minda Industries is expecting a revenue growth of 40 percent for fiscal 2009, helped by new orders and exports. Exports make up 23 percent of Minda's annual revenue. Over 70 percent of Minda's exports are to European countries. It expects its order book to go up by at least 40 percent to about 6 billion rupees in FY09. For fiscal 2008, Minda Industries had posted revenue of 3.96 billion rupees. LIGHTING PLANT Minda is conducting a feasibility study to set up a new lighting plant in Bawal in Haryana. It plans to invest 800 million rupees on the plant. "We will be investing 1 billion rupees over two years on our lighting division," Minda said. It already has a lighting facility in Pune, where it plans to expand capacity. The company plans to begin work on the Bawal plant after July, he said. Minda expects its lighting division to contribute 2.25 billion to 2.50 billion rupees to annual revenue in the next two years.