Mahle said it would sell its thermostat business to industrial and investment holding company Admetos.
The two parties finalised a contract at the beginning of August.
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Admetos planned to manage the segment with 600 employees across six countries.
“We plan to expand the thermostat business. We see further potential in industrial applications and growth opportunities through portfolio expansions also outside the mobility sector,” said Admetos managing directors Kai Dorn and Florian Prettl.
Mahle said its thermostat product group was not considered a strategic business segment for the company’s future.
The sale would impact locations in Qingdao (China), Berga (Germany), Queretaro (Mexico), and the thermostat development area in Stuttgart (Germany).
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By GlobalDataAdditionally, production areas for thermostats in Muehlacker (Germany), Busan (South Korea), Grugliasco (Italy), and Holysov (Czech Republic) would be affected.
Sales of thermostats under the Mahle and Behr brands to the spare parts and accessories trade would continue to be managed by the Mahle aftermarket network.
