TMD Friction says its recent acquistion by Japanese group Nisshinbo Holdings will further its goal to be the world’s largest brake friction material producer.
Nisshinbo is a EUR3bn (US$4.1bn) turnover company with more than 18,000 employees globally and manufactures textiles, chemicals and electronics as well as automotive brakes.
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“What is interesting is Nisshinbo…is not present in the aftermarket so there is absolutely no overlap – it is an ideal fit,” said TMD Friction UK managing director Rob Sweetnam at this week’s EquipAuto show in Paris.
“Nisshinbo is located in countries where TMD is not located in Asia. Also TMD is located in Europe where Nisshinbo has no footprint. So we have enormous opportunities.”
Combining TMD Friction and Nisshinbo’s brake division is estimated to create a company with a EUR1bn turnover and more than 6,000 employees.
“In spite of some years of turbulence TMD has kept up,” TMD Friction marketing director Benoit Praduad said. “Very clearly the objective is to maintain the position and continue the progression.
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By GlobalData“We are on a plan to double our market share in four years. It is realistic to say four years.”
TMD Friction has created four research and development centres in Germany, South Africa and Brazil with one more scheduled for China.
For the year ended 31 December 2010, TMD reported a 20% increase in sales to EUR637m with proforma EBITDA up 160% to EUR71m.
