ContiTech acquiring hose line from Parker Hannifin

qiangzi

Wednesday, August 15, 2012
$ U9 b& q6 f/ d! X' m
Hanover, Germany - Continental announced the acquisition of the automotive air conditioning business of the Collierville, TN-based Mobile Climate Systems division of Parker Hannifin. This acquisition includes plants in Mexico (Monterrey and Montemorelos), the Czech Republic (Chomutov), South Korea (Chonan) and China (Wuxi). ContiTech will take on approximately 1,000 employees in total from this acquisition. The acquired business manufactures refrigerant control and containment components for passenger car and light truck vehicle air conditioning applications. It is one of the largest acquisitions in ContiTech’s history. The relevant agreements have been signed; however, the transaction is still subject to the approval of the antitrust authorities. The acquired business will be integrated into ContiTech’s Fluid Technology Business Unit. Air conditioning lines are produced by ContiTech’s Fluid Technology business unit which, with around EUR 1.3 billion in sales and around 14,000 employees, is the technology company’s largest business unit. The Fluid Technology business unit is a development partner and original equipment manufacturer of components and systems.