GERMANY: ContiTech buys moulded brake business from Freudenberg Sealing Technologies
ContiTech Vibration Control is to acquire the moulded brake components business from Freudenberg Sealing Technologies, Weinheim.
Operations in Andrézieux, France and the moulded brake parts business in Oberwihl, Germany and Querétaro, Mexico, are to be transferred to ContiTech Vibration Control, subject to regulatory clearance.
"This acquisition will improve our position in the French market in particular and at the same time it will also add in-demand safety-related parts to our range," says Kai Uwe Frühauf, head of the ContiTech Vibration Control business unit.
"In future, we will also have research and development competence in France. This will open up new business opportunities within the French automotive industry and its supplier industry."
At the same time, the company is widening its product range - it will now also offer lip seals and pulsation damper units for ABS systems.
"This will allow us to combine the know-how from both companies and will enable us to respond more flexibly to customer requests, as well as simplifying our logistics operations," says Kai Peters, head of the Chassis Sealing Systems segment.
Both parties have agreed not to disclose the purchase price or the sales volumes involved.
ContiTech Vibration Control is a specialist for vibration control technology and noise isolation. The company also develops sealing systems for chassis, steering and brake systems.