TMD Friction Group says its acquisition by Nisshinbo Holdings has been completed to create what it maintains is the world’s largest automotive brake friction manufacturer.
Nisshinbo has a EUR3bn (US$4bn) turnover with more than 18,000 employees globally and manufactures textiles, chemicals and electronics as well as automotive brakes.
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A statement from TMD noted: “The combination of TMD with Nisshinbo Brake under the ownership of Nisshinbo Inc, creates the world’s largest automotive brake friction manufacturer with clear technology leadership and an extensive offering for passenger cars and commercial vehicles.
“The combined companies have revenues of more than EUR1bn and have more than 6,000 employees.”
At the recent EquipAuto show in Paris, TMD Friction UK managing director Rob Sweetnam, told just-auto: “What is interesting is Nisshinbo…is not present in the aftermarket so there is absolutely no overlap – it is an ideal fit.
“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.”
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.
