Stemco has entered into an agreement to acquire the Veyance North-American air springs business form Continental AG, the company announced.
The Veyance North American air spring business is the manufacturer of Goodyear air springs. It was previously part of Veyance Technologies before Continental acquired it in January 2015.
The acquisition includes facilities in Fairlawn, Ohio and San Luis Potosi, Mexico where Goodyear air springs are manufactured and will bring in the air spring manufacturing, design and support teams to the Stemco staff.
"The air springs business carries with it premium product performance," said Todd Anderson, president of Stemco. "Customers will be able to count on the same consistent product performance and brand attributes, as the products will continue to be manufactured in the same facility and engineered by the same design team with the same support functions, in addition to gaining the support of the entire Stemco team."
The transition should be completed by July, says Stemco, with all customer inquiries, payments and communications handled through existing channels.
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