Trelleborg shares in JV Vibracoustic transferred to Freudenberg
On 5 July 2016, the 50% shareholding held by Trelleborg, Sweden, in the joint venture Vibracoustic, Darmstadt, was transferred to the Freudenberg Group. The transaction had been approved by the relevant authorities. In the 2015 financial year, Vibracoustic generated sales of almost EUR2bn (US$2.2094bn) with some 9,400 employees.
"Through the cooperation with Trelleborg's automotive anti-vibration business, Vibracoustic has become a global and technology market leader in vibration control components and modules in the automotive industry. As sole shareholder, we now have more flexibility to continue developing and supporting Vibracoustic strategically and financially," said Mohsen Sohi, Freudenberg Group CEO.
"Vibracoustic and our customers will continue to benefit from the Freudenberg Group's long-term orientation and financial solidity. Vibracoustic has a unique product portfolio of vibration control solutions for passenger cars and commercial vehicles," said Frank Muller, CEO of Vibracoustic.
The company was founded in July 2012 as a 50:50 joint venture between the Freudenberg Group and Trelleborg. At that time, Freudenberg brought its Vibracoustic Business Group into a joint venture with Trelleborg's automotive anti-vibration business.
Today, Vibracoustic supplies almost all passenger car and commercial vehicle manufacturers, as well as global tier one suppliers with components that noticeably boost the comfort, safety and longevity of vehicles. Bearings, mounts, springs, isolators and mass dampers reduce the noise and vibrations caused by powertrains and adverse road conditions.
The company's engineers develop vibration damping technologies in a global R&D network. New insights gained into manufacturing and materials engineering, and modern methods of calculation play a key role. Here, the focus lies not just on individual components, but on their effect on the entire vehicle.
In the past, Vibracoustic recorded stronger organic growth than the relevant market segment and in the 2015 financial year, the company generated sales of EUR1,941.8m (previous year: EUR1,779.3m) with 9,354 employees (previous year: 9,020 employees). Based on the 50% shareholding held until now, pro-rata sales attributable to Freudenberg amounted to EUR970.9m (previous year: EUR889.6m), with 4,677 employees (previous year: 4,510 employees).