MAHLE takes over majority share in BEHR Industry
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Stuttgart, February 4th, 2010 –The supervisory boards of MAHLE GmbH and BEHR GmbH & Co. KG agreed upon the acquisition of 60 percent of the shares in BEHR Industry GmbH & Co. KG by the MAHLE Group.
In 2008, the industry division of BEHR Group achieved sales of approximately 206 million euros and currently employs around 900 employees in five locations in Germany and the USA. Its main products are cooling and air conditioning systems for railway and special vehicles, buses, ships, construction and agricultural machinery, the aviation industry, and stationary heavy duty engines for power generation. In future, BEHR Industry will operate under the name Mahle Behr Industry.
MAHLE intends to integrate the company Mahle Behr Industry into its existing industrial activities for large engines and industrial filtration. It is planned to bundle these activities in a new business unit "MAHLE Industry" with an annual sales volume of approximately 500 million euros. Behr will not participate in the existing industrial activities of MAHLE in the areas of large engines and industrial filtration.
The acquisition of the majority share in BEHR Industry by MAHLE is still subject to approval by the antitrust authorities. Both parties have agreed not to disclose the purchase price.
Prof. Dr. Heinz K. Junker, Chairman of the Management Board of the MAHLE Group, commented: "With its products in the area of thermal management, BEHR Industry is an ideal addition to the portfolio of our own industrial activities for large engines and stationary filtration. Like in the automotive sector, filtration and cooling are closely connected. By cross-selling effects and penetrating new business fields such as renewable energies or decentralized power generation, we see substantial growth potential for a new business unit MAHLE Industry, coupled with synergy effects. Furthermore, we aim to focus our industrial activities more intensively to international growth outside Europe."
Dr. Markus Flik, CEO of the BEHR Group, added: "With MAHLE, we found a partner for our industrial business who is interested in a long-term development of these activities and who will promote its further growth. It is strategically important for BEHR to maintain access to attractive growth markets in the cooling and air conditioning business outside the automotive sector."
Apart from the majority acquisition of BEHR Industry, MAHLE and BEHR are currently considering the possibilities of a further strategic cooperation in the automotive sector. Both companies consider the areas of thermal management and mechatronics to be of high importance for growth markets. A cooperation would open synergy potentials and further enhance the systems know-how in the automotive business for both supplier companies.
The MAHLE Group is one of the 30 largest companies in the automotive supply industry worldwide. As a leading manufacturer of components and systems for the combustion engine and related products, MAHLE ranks among the top 3 systems suppliers for piston systems, cylinder components, valve train systems, air management systems, and liquid management systems. In 2008, MAHLE employed around 45,000 people at over 100 production plants and eight research and development centers and achieved sales of over 5 billion euros.
More information at www.mahle.com
Behr GmbH & Co. KG, Stuttgart, is a systems partner for the international automobile industry. A specialist for automotive air conditioning and engine cooling systems, the Behr Group is one of the world’s leading manufacturers and suppliers of original equipment for passenger and commercial vehicles. Group sales in the 2008 business year came to around 3.3 billion euros. Behr employs approximately 17,000 staff at 17 development locations, 28 production sites and 12 joint ventures worldwide.
In 1990, BEHR Industry GmbH was turned into an independent subsidiary of the BEHR Group. The company with headquarters in Stuttgart, Germany, specializes in cooling and air conditioning systems for railway and special vehicles, buses, ships, construction and agricultural machinery, the aviation industry, and stationary heavy duty engines for power generation. In 2008, Behr Industry attained worldwide sales of around 206 million euros with approximately 900 employees.
More information at www.behrgroup.com