To tap the Italian and European leather market, DK-Schweizer Europe BV, a subsidiary of DK Leather Corporation Berhad, has proposed to acquire 20 percent equity in Italian automotive leather upholstery maker Salt SRL from Gavina Francesco for 600,000 euros (RM2.75 million).
Company also proposed to subscribe for 50 percent equity in a new company DK-Salt SRL for 250,000 euros (RM1.15 million), company sources revealed.
Salt SRL would subscribe for the remaining 50 percent in the company for 250,000 euros, it added.
This acquisition would help DK Leather in establishing relationship with European automotive makers.
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