TMD Friction Group SA is being acquired by Nisshinbo Holdings, a Japanese group listed on the Tokyo Stock Exchange.
The combination of German-based TMD with Nisshinbo will create one of the world's largest automotive brake friction manufacturers, with extensive offering for passenger cars and commercial vehicles. The combined companies will have revenues of over $1.3 billion and over 6,000 employees.
TMD has grown rapidly over the past three years, benefitting from strong growth in fast growing regions such as China, Brazil and the independent aftermarket. The company has made significant investment in capacity and product development as well as targeted acquisitions. In 2010, TMD reported a 20% increase in sales to $866 million.
Nisshinbo has an established position as a global player in the areas of brake, mechatronics, textiles and electronics. Its brake business is operated globally by Nisshinbo Brake Inc. and its overseas subsidiaries, which include manufacturing facilities in Japan, South Korea, USA, China, Thailand and India.
TMD will continue to operate as an independent, wholly owned subsidiary and be led by CEO Derek Whitworth and his management team. Koji Nishihara, president of Nisshinbo, will also join the board of TMD. A joint Global Management Team will also be established with members from both companies.
The combination of German-based TMD with Nisshinbo will create one of the world's largest automotive brake friction manufacturers, with extensive offering for passenger cars and commercial vehicles. The combined companies will have revenues of over $1.3 billion and over 6,000 employees.
TMD has grown rapidly over the past three years, benefitting from strong growth in fast growing regions such as China, Brazil and the independent aftermarket. The company has made significant investment in capacity and product development as well as targeted acquisitions. In 2010, TMD reported a 20% increase in sales to $866 million.
Nisshinbo has an established position as a global player in the areas of brake, mechatronics, textiles and electronics. Its brake business is operated globally by Nisshinbo Brake Inc. and its overseas subsidiaries, which include manufacturing facilities in Japan, South Korea, USA, China, Thailand and India.
TMD will continue to operate as an independent, wholly owned subsidiary and be led by CEO Derek Whitworth and his management team. Koji Nishihara, president of Nisshinbo, will also join the board of TMD. A joint Global Management Team will also be established with members from both companies.
media brand
0 Comments
See all comments