GERMANY: Huf buying BorgWarner Beru tyre pressure monitor business
Huf (Huelsbeck & Fuerst) and BorgWarner Beru Systems have agreed that the former's subsidiary, Huf Electronics of Duesseldorf, Germany, will take over the tyre pressure monitoring system business of Beru Electronics in Bretten, Germany, employing about 230 people.
Subject to usual approvals the companies expect the deal to close by the new year.
Beru Electronics has specialised in development and production of tyre pressure control systems and holds a claimed "significant" market share in Europe.
"Weare planning to expand this segment even further and will use synergies to our existing product range. The product spectrum of Huf and Beru Electronics match quite well", said Huf Group CEO Ulrich Huelsbeck.
Tire pressure monitors are mandatory in all new cars in the US and likely to become so in Europe from 2014, the supplier said.
Huf is also an OEM supplier of electronic and mechanical locking systems, car access systems, passive entry systems, door handle systems, driver authorisation and tailgate systems. Group turnover last year was about EUR847m.