ContiTech to Acquire Freudenberg Braking System Parts Business
ContiTech Vibration Control intends to acquire the braking system components business under Freudenberg Sealing Technologies, and the project still needs the approval of the relevant management department.
In accordance with the contract between the two parties, ContiTech Vibration Control will take over Freudenberg Sealing Technologies' brake components business in France, Germany and Mexico.
Kai Uwe Frühauf, head of ContiTech's vibration control business, stated: “This acquisition will help consolidate our position in the French market. In the next few years, we will also enhance our R&D capabilities and provide new opportunities for business growth.â€
In addition, the acquisition will also provide driving force for ContiTech's business development in the Americas, Europe and Asia. At the same time, this acquisition will help expand ContiTech's product lineup.
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