Ludwigsburg filter specialist MANN+HUMMEL intends to acquire the shares held by auto parts supplier Bosch in the shared US operations of the two parties.
MANN+HUMMEL announced today in Ludwigsburg that it will acquire 50% of Bosch's shares in Purolator, a joint venture between the two companies located in the northern United States. The two auto parts suppliers each acquired half of Purolator's shares in northern United States in 2006. Purolator has 1,000 employees and produces filters for car manufacturers and retailers. It is reported that Purolator's 2012 turnover is expected to reach 185 million euros.
The antitrust agency has not yet approved the transaction. Details of the transaction have not been disclosed. Alfred Weber, CEO of MANN+HUMMEL, believes that the planned acquisition is well suited to the company's strategy. He said: "This acquisition has brought us closer to becoming the world's leading filter manufacturer."
The joint venture was established after MANN+HUMMEL and Bosch took over the ArvinMeritor business in 2006. Through the acquisition of shares, MANN+HUMMEL was able to strengthen its package and parts business in the North American Free Trade Area and strengthen its global filter business.
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