Lumax Auto Technologies Ltd., part of India-based auto component supplier Lumax DK Jain Group, has announced its plan to acquire the remaining 25% stake in IAC International Automotive India Pvt. Ltd. (IAC India) from IACG Holdings LUX SARL. This acquisition, valued at 2.21 billion rupees (about $25.8 million), will make IAC India a wholly owned subsidiary of Lumax Auto, enhancing its position in the automotive interior systems sector. With this transaction, Lumax Auto, which already&n...

Samvardhana Motherson International Ltd. (SAMIL), a global supplier of automotive components headquartered in India, has successfully completed the acquisition of Baldi Industria E Comercio Ltda., a Brazil-based automotive component manufacturer, Autocar Professional reported May 3. This acquisition, first announced in December 2024, was executed through SMP Automotive Produtos Automotivos Do Brasil Ltda. (SMP Brasil), a wholly owned subsidiary of Samvardhana Motherson Automotive Systems Group B...

Global Technologies has completed the acquisition of 100% of Novares Group, a France-based supplier of automotive plastic parts, from its previous owners — Equistone, Bpi France and other minority shareholders. This acquisition marks a significant milestone for Novares, which is expected to enhance its position in the automotive market. Novares specializes in automotive exteriors and interior parts as well as powertrain, including electric powertrain components. The company said one in ever...

Voxx International has completed its previously announced sale to Gentex Corp. The two companies entered a definitive agreement and planned to merge in December 2024. Under the agreement, Gentex agreed to purchase Voxx in an all-cash transaction valued at $7.50 per share. The acquisition was finalized after a special meeting held by Voxx on March 31, where stockholders voted in favor of the merger, with regulatory and stockholder approvals in place. Voxx Chairman Ari Shalam expressed gratitud...

Tata AutoComp Systems, an Indian automotive components manufacturer within the Tata Group, has completed the acquisition of an 80% stake in Artifex Interior Systems Limited, previously known as IAC UK. The acquisition was carried through Tata Motors’ wholly owned subsidiary Jaguar Land Rover Ventures Limited (JLRV). This transaction, executed on March 28, 2025, involved a payment of £77 million with a potential additional deferred consideration of £6.3 million, based on certain conditions...

Tata AutoComp Systems has announced it will acquire International Automotive Components Group Sweden AB (IAC Sweden), in a bid to strengthen its presence in Europe's automotive sector. The company, however, did not disclose any financial details. IAC Sweden has a turnover of approximately $800 million and is a well-established manufacturer of interior systems and components to the automotive industry. The transaction is subject to European regulatory approvals, according to Tata AutoComp. "This ...

Atlas Holdings has reached an agreement to acquire SRG Global, a major supplier of decorative trim systems for the automotive market, through an affiliate. The specifics of the financial aspects of the deal were not disclosed, but the transaction is expected to be finalized by early 2025, pending the fulfillment of standard closing conditions and obtaining regulatory approval. SRG Global, with its headquarters in Troy, Michigan, operates manufacturing sites across North America, Western and C...

Samvardhana Motherson Automotive Systems Group BV (SMRPBV), a wholly owned subsidiary of Indian auto components group Samvardhana Motherson International Ltd. (SAMIL), has agreed to acquire Brazil-based automotive supplier Baldi Industria E Comercio Ltda for $7.8 million, Autocar Professional reported Dec. 16. The transaction is expected to be completed in the first quarter of the next financial year (fiscal year 2025/26), subjected to satisfactory completion of all closing conditions. B...

On Dec. 4, 2024, Proma Group, an Italy-based automotive supplier, signed an investment agreement with Recaro Automotive GmbH to acquire its struggling business in Germany. The investment will allow Recaro Automotive to continue and relaunch its operations across Europe from January 2025. In July 2024, Recaro Automotive GmbH filed for insolvency in the Esslingen District Court, Germany. The court had ordered provisional self-administration and appointed Stuttgart lawyer Holger Blümle as the p...

The board of directors of Indian supplier Pricol Ltd. has approved the acquisition of the injection-molded plastic component division of another local supplier, Sundaram Auto Components Ltd., for 2.15 billion rupees (about $25.4 million), CNBC TV18 reported. The acquisition, done through Pricol’s wholly owned subsidiary, Pricol Precision Products Pvt. Ltd., is expected to be completed by Jan. 31, 2025, subject to the fulfillment of conditions in the business transfer agreement. The acq...

Aisin Corp. signed a memorandum of understanding (MOU) on Oct. 31 to merge its consolidated subsidiary Aisin Chemical into its operations. Aisin Chemical specializes in the development, manufacturing and sale of chemical products, friction materials and plastic parts for vehicles. Aisin Chemical will repurchase all of its shares held by companies other than Aisin as treasury stock, and then merge with Aisin. The planned merger is scheduled to become effective from April 1, 2025. Thi...

Autoneum has signed an agreement to acquire a 70% stake in Jiangsu Huanyu Group, a major supplier of automotive acoustic and thermal management solutions in mainland China. The acquisition is expected to significantly expand Autoneum’s presence in Asia and broaden its customer base to include several mainland Chinese automakers such as BYD, BAIC and GAC. The acquisition will be carried out in two phases. In the first phase, the acquisition of a 70% equity stake in the company for CHF 75 mil...

Toyota Boshoku Corp. has announced that it will accept a capital investment from Aunde Achter & Ebels GmbH in its consolidated subsidiary, TB Kawashima Co. Ltd., in a press release dated March 28. As a result, Toyota Boshoku's voting rights ratio in TB Kawashima will decrease to 20%, and TB Kawashima will become an equity method affiliate company. The investment is expected to strengthen TB Kawashima's competitiveness and enhance its new product development capabilities. Aunde, which has ...

On March 19, Samvardhana Motherson International Ltd. announced that its subsidiary MSSL Mideast (FZE) will acquire 100% of Yachiyo’s Indian unit, Yachiyo India Manufacturing Pvt. Ltd. Subject to completion of other ongoing conditions precedents for the transaction, the closing is now expected to be completed within March. The current transaction is part of an existing agreement between Motherson and Honda Motor. In July 2023, Samvardhana Motherson entered into an agreement to acquire 81% s...

Top Indian automotive supplier Rane Group has decided to merge two of its listed companies – Rane Brake Lining and Rane Engine Valve — with its other listed company, Rane (Madras). The proposed reorganisation will bring all operating business subsidiaries under one single company, and it will create a larger company with a combined turnover of rupees 33.73 billion for the trailing 12 months period ended December 31, 2023 (January-December 2023) on a proforma basis, business daily the Hindu B...

Humanetics and Ansys have entered into a definitive agreement whereby Ansys will acquire a minority stake in Humanetics. The transaction is subject to regulatory approvals and is part of an existing partnership between the two companies, as read in a press release on Jan. 23. Humanetics is a leading provider of physical and digital human-safety systems and sensor technologies, including anthropomorphic test devices (ATDs) and innovative ergonomics software solutions. Ansys, a global private e...

Danlaw Inc., a renowned pioneer in the field of vehicle-to-everything (V2X) technology, announced the acquisition of Australia-based Cohda Wireless. The company said this is a strategic move that marks a significant milestone in Danlaw’s global expansion initiative, aimed at advancing connected vehicle safety and smart city solutions. The acquisition of Cohda by Danlaw reflects a commitment to innovation, and a shared vision of creating a more connected and safer future for vehicles, c...

Recaro Automotive North America has acquired the assets and technology of C12 Technology, it said in a press release dated Nov. 20. C12 Technology is a US-based company specializing in advanced material component development and production. With this acquisition, Recaro aims to strengthen its Automotive division’s position in the premium performance seat market. The deal marks a strategic move by Recaro Automotive to vertically integrate its engineering, development and manufacturing o...

Harman Professional Solutions, a global leader in audio, lighting and video and control technologies, has agreed to acquire Flux Software Engineering (Flux::), a pioneer in immersive audio production, audio processing plug-in design and audio analysis. The acquisition will expand Harman Professional's offerings across various applications with cutting-edge immersive technology and establish a foundation for future innovation by combining Flux::'s team with Harman Professional's hardware and s...

Toyota Boshoku Corp. announced October 3 that the company has acquired the shares of Toyota Auto Body Seiko Co. Ltd. from Toyota Auto Body, increasing its shareholding from the current 33.6% to 66.4% stake and making it a subsidiary company. After an increased stake, the subsidiary company will be renamed as Toyota Boshoku Seiko Corp. as of October 1, it said. The corporate restructuring was done in the presence of Masayoshi Shirayanagi, president of Toyota Boshoku Corp.; Katsuhiro Matsu...

Uno Minda is set to acquire the remaining stake in Uno Minda Europe for €1.3 million after receiving board approval, CNBC TV18 reported on September 12. The acquisition will make Uno Minda Europe a wholly-owned subsidiary of Uno Minda. The Indian supplier will buy a 3.81% stake held by George Hutter in Uno Minda Europe through SAM Global Pte Ltd, a wholly owned subsidiary of Uno Minda. Significance: Uno Minda Europe develops lighting systems and electronic control units (ECUs). The compa...

ABC Technologies has entered into an agreement to acquire an automotive business of Plastikon Industries, it said in a press release dated August 23. The acquisition cost is $130 million, with the transaction expected to close in the third calendar quarter of 2023. “Welcoming Plastikon Automotive into ABC Technologies will represent a significant step forward for our company. It amplifies our position as an industry leader in lightweighting and plastic injection molding, gives ABC a stronge...

Samvardhana Motherson has announced that its unit Samvardhana Motherson Automotive Systems Group is set to acquire the assets and shares of the German entities of Dr. Schneider Holding, according to a company press release dated July 24. Dr. Schneider Group is a manufacturer of innovative, high-end interior components. The overall enterprise value of the deal is about €118.3 million. Dr. Schneider Holding has seven facilities in five countries and employs around 4,500 people. “We have bee...

Japan Display (JD) has announced that its subsidiary, JDI Design and Development GK (JDIDD), has completed the acquisition of Joled’s organic light-emitting diode technology-development business and related operations, in a press release dated July 18. Significance: The acquisition agreement was first announced in March. Joled was established in 2015 to develop and commercialize low-cost, high-resolution OLED displays using a printing method. In 2021, Joled began full-sc...

Samvardhana Motherson International has completed the acquisition of 51% stake in Saddles International Automotive and Aviation Interiors Pvt. Ltd. (SIAAIPL), it said in a press release dated July 13. SIAAIPL is engaged in the manufacturing of premium upholstery for passenger vehicles. The enterprise value of the deal is 2.07 billion Indian rupees (around $25 million) and it was an all-cash transaction. Significance: Samvardhana Motherson’s board first announced the intention of acquitting ...

Samvardhana Motherson International announced that it has entered into an agreement to acquire 81% stake in Yachiyo’s 4W (Y4W) Business, in a press release dated July 4. The acquisition will be done through Motherson’s subsidiary SMRP. Motherson will form an 81:19 strategic partnership with Honda Motor. According to the filing, the equity value of 100% of the enterprise is around $160 million. Significance: As a part of this transaction, Honda Motor will first buy out the entire public st...

Witte Automotive has announced the acquisition of VAST Automotive Group, according to a company press release June 30. While the consideration of the deal was not announced, Witte expects to generate sales of more than €1 billion in the next fiscal year. The company also expects to employ around 6,000 people. “Global trends in the automotive industry have led to significant shifts in the markets. Our products are increasingly in demand in Asia. With the new distribution of ownership withi...

Lear Corp. (Lear) has announced the completion of the acquisition of I.G. Bauerhin GmbH (IGB), according to a company press release April 26. The acquisition was initially announced in May 2022, when Lear had signed a definitive agreement to acquire IGB for €140 million on a cash and debt-free basis. “IGB is the final piece of Lear’s comprehensive strategy to develop and integrate its Thermal Comfort Systems for automotive seating. Lear is the most vertically integrated g...

Toyota Boshoku Corp. announced that the company spun off from Aisin Shiroki has been renamed to Toyota Boshoku Hirose Corporation and has become a subsidiary of Toyota Boshoku, according to a company press release on April 4. Toyota Boshoku has acquired 80% of Toyota Boshoku Hirose's shares on April 1. Toyota Boshoku Hirose manufactures automotive seat components. Significance: In June 2022, Toyota Boshoku, Aisin and Shiroki signed a production transfer contract to transfer Shi...

Autoneum announced that it has completed the acquisition of the automotive business of Borgers, in a press release dated April 3. The agreement was initially announced in January 2023. Following the acquisition, Autoneum will operate 67 production facilities and employ around 16,100 people in 24 countries. Autoneum also announced its shareholders have approved the creation of a capital band to raise around CHF100 million for the long-term financing of the acquisition. “Borgers Automoti...

Lumax Auto Technologies has signed an agreement to acquire majority stake in IAC International Automotive India Pvt. Ltd, from the International Automotive Components Group (IAC Group), it said in a press release on 20 February. The acquisition is valued at INR5.87 billion (USD103.4 million). Following the acquisition, IAC will continue to hold a 25% stake. The remaining 75% stake will be bought through a special acquisition vehicle at INR4.40 billion, which will be paid in cash funded by deb...

Faurecia, a company of the FORVIA Group, has received a firm and binding commitment from the Motherson Group to acquire 100% of “SAS” Cockpit Modules division, based on an enterprise value of EUR540 million (USD577 million), according to a press release on 20 February 2023.  The transaction would complement its Modules and Polymer Products portfolio. Patrick Koller, CEO of Faurecia declared, "We have successfully developed and positioned SAS as one of the leading global providers of ...

According to a report published by Business Standard on 30 December 2022, TAFE (Tractors and Farm Equipment Ltd) has acquired the Indian interior business of Group Forvia, Faurecia. Faurecia serves major automotive customers such as Mobis-Kia, Mobis-Hyundai, Volkswagen, FCA and TATA. The agreement includes Faurecia's activities in Tamil Nadu, Andhra Pradesh, and Chakan, Maharashtra. The deal for Chakan and Anantapur is completed, and the one for Tamil Nadu is probably likely to conclude soon....

Malaysia-based automotive leather upholstery maker Pecca Group has announced that it signed a memorandum of understanding (MOU) with PT Gemilang Maju Kencana (GMK) to acquire 80% stake in GMK, The Star reported on 1 November. Foo Ken Nee, CEO, Pecca Group, said, "Indonesia is expected to be an important engine of growth for Pecca as it strives to enlarge its foreign presence in the automotive industry.” According to the report, Pecca is expected to invest IDR2.4 billion (USD157,714). ...

Samvardhana Motherson Automotive Systems Group BV (SMRPBV) has announced via press release on 26 September that it acquired Japan-based Ichikoh Industries’ mirror business for JPY5.2 billion (USD36.25 million).   Mr. Vivek Chaand Sehgal, chairman, Motherson said, “Inorganic growth is an integral part of our Vision 2025. With this acquisition, Motherson will acquire design and manufacturing footprint in Japan enabling closer coordination and stronger relationship with Japanese custome...

HARMAN International has announced the acquisition of CAARESYS, an Israel-based company founded in 2017 that develops vehicle passenger monitoring systems powered by contactless, low-emission radar, according to a press announcement by HARMAN on 6 September 2022. Building on the company's robust consumer-focused advanced driver assistance system (ADAS) and Digital Cockpit solutions, HARMAN's automotive product portfolio will be strengthened by the in-cabin radar sensor and algorithm solution ...

Webasto has announced that it acquired glass specialist Carlex Glass Luxembourg SA, it said in a press release on 18 August. Commenting on the acquisition, Dr. Holger Engelmann, Chairman of the Management Board of Webasto SE, said, “Investing in our own glass manufacturing facility is an important strategic step for us in strengthening the competitiveness of our top-selling business unit—and consequently of the entire Webasto Group.” According to press release, the site, which previo...

Gentherm has announced that it completed the acquisition of automotive business of Alfmeier Präzision SE (Alfmeier), following its announcement on 4 May 2022, according to a press release published by Gentherm on 1 August.    Phil Eyler, Gentherm's president and CEO, said, “This transaction aligns well with global consumer demand for expanded offerings in vehicle passenger comfort. Combining Alfmeier’s technological advancements in physiotherapy with Gentherm’s expertise in t...

Plastic Omnium has announced in a press release on 28 July that it has signed an agreement with HELLA to acquire remaining 33.33% stake of modules business HBPO GmbH for an equity value of EUR290 million (USD306.70 million) enabling Plastic Omnium with complete ownership.   Laurent Favre, CEO, Compagnie Plastic Omnium SE, said, “The acquisition of the remaining 33.33% of HBPO will allow Plastic Omnium to implement its growth strategy by broadening the range of modules offered. Thanks t...

Indian automaker Tata Motors’ subsidiary Tata Passenger Electric Mobility Ltd (TPEML) has signed a tripartite memorandum of understanding (MoU) with Ford India Pvt Ltd (FIPL) and the Government of Gujarat for acquiring the latter’s passenger vehicle manufacturing plant in Sanand, Gujarat, news publication Business Standard reported on 31 May 2022. It said that the acquisition of Ford’s manufacturing unit by Tata Motors would help the automaker expand capacity to make passenger cars as well...

Lear Corporation has announced via press release that it entered into a definitive agreement to acquire seating climate control specialist I.G. Bauerhin (IGB) for EUR140 million (USD147.49 million), according to a press release published by Lear Corporation on 20 May.   Lear President and CEO Ray Scott, said, “The acquisition of IGB furthers Lear’s vertical integration strategy and advances our vision of being the leading provider of innovative thermal comfort solutions. Combining Le...

Lear Corporation has announced its acquisition of Romania-based seating materials specialist Thagora Technology SRL, according to a press release published by Lear Corporation on 19 May.   Frank Orsini, Lear executive vice president and president, Seating, said, “Thagora offers Lear access to scalable, smart-manufacturing tools that will be a valuable addition to our business. We welcome Thagora’s talented employees to the Lear family. Together, we share the same profession...

Gentherm has announced via press release on 4 May it entered into a definitive purchase agreement to acquire automotive seating business of Alfmeier Präzision SE (Alfmeier) for EUR177.5 million (USD186.69 million). Gentherm expects to achieve around USD10 million in annual run-rate cost savings in addition to revenue synergies, press release added. Andreas Gebhardt, CEO of Alfmeier, said, “I am excited to see the combination of two unique system design companies with integrated hardware...

Plastic Omnium has acquired Varroc’s automotive lighting business, Varroc Lighting Systems (VLS) for EUR600 million (USD635.43 million), according to a press release published by Plastic Omnium on 29 April. The transaction includes 100% ownership of VLS’ companies in Europe, Americas, and North Africa and research and development (R&D) center in Pune, India, press release added.   Laurent Favre, CEO of Plastic Omnium said, “With Varroc Lighting Systems, Plastic Omnium become...

Indian automotive supplier Minda Corporation Ltd has acquired the remaining 49% equity stake in Harita Fehrer from F.S. Fehrer Automotive GmbH, the company said in a regulatory filing on 25 March. The transaction enables Minda Corp. to hold 100% stake of Harita Fehrer Ltd. Minda Industries though the acquisition will provide full-fledged interior seating solutions portfolio to support its global customers. The supplier specializes in manufacturing of PolyUrethane (PU) foam pads, seats, PU co...

Germany-based Aequita has concluded an agreement to acquire ZF’s Electronic Interfaces product line to further strengthen its portfolio, the company announced in a press release on 21 March. Commenting on the deal, Thomas Buda, head of the Electronic Interfaces product line, said, "Aequita fully supports our strategic orientation. With the greatest possible independence under the umbrella of the AEQUITA Group, we have the best growth prospects, and we can work even more freely, agilely...

The Compound Company announced the acquisition of Exxelor polymer resins from ESSO Deutschland GmbH, ExxonMobil in Cologne, Germany, according to a press release published by The Compound Company on 1 March. The transaction include production site, product portfolio, and existing customer base of Exxelor. Frans Haafkens, major shareholder of The Compounding Company, said, “We are very excited to welcome the Exxelor manufacturing force and portfolio in our organization. The acquisition adds ...

Stone Plant Investments B.V., an affiliate of Warburg Pincus acquired a majority stake in Imperial Auto Industries Limited, according to a press release published by Warburg Pincus on 8 March. Mr. Tarun Lamba, managing director and CEO, Imperial, said, “This is a very interesting time in the auto industry, and we are excited to partner with Warburg Pincus to help us strengthen our position as a leading global FTP components supplier out of India. This investment will help us fund our future...

ABC Technologies completes previously announced acquisition of Karl Etzel GmbH from the Schürrle family for around USD95 million, according to a press release published by ABC Technologies on 4 March. Significance: ABC technologies through the acquisition will leverage Etzel’s knowhow in injection molding plastics for automotive interior and exterior applications further growing ABC’s portfolio suite in the European market. The acquisition will enable ABC to attain higher diversification...

Israeli nanotechnology and electrical systems company Gauzy acquires Vision Systems following a successful USD60 million Series D investment round, according to a press release published by Gauzy on 8 February. The new merger will enable Gauzy to leverage on Vision Systems’ cockpit shading solutions and increase the company’s customer base. Eyal Peso, CEO of Gauzy, said, “As leaders in material science, Gauzy is committed to innovation that matters. A core motivation for this strategic ...

ABC Technologies completes the previously announced acquisition of dlhBOWLES from Morgenthaler Private Equity (MPE) Partners for cash consideration of around USD255 million, according to a press release published by ABC Technologies on 1 March.    Significance: Technical plastics and lightweighting company ABC Technologies, through the acquisition, will strengthen its fluid management product offerings with a wider customer base in the industry. dlhBOWLES’ knowhow in camera and se...

Kongsberg Automotive (KA) announces completion of sale of its Interior Comfort Systems (ICS) business unit to Lear Corporation, following European Commission’s approval on 25 February 2022, according to a press release published by Kongsberg Automotive on 28 February.    Joerg Buchheim, president and CEO of Kongsberg Automotive, said, “Thanks to both the teams for the smooth transaction. I am excited to see how ICS is further developed within Lear and wish everybody great succes...

Global chemical and specialty materials company, Celanese Corporation announced the signing of a definitive agreement to acquire most of the Mobility & Materials (M&M) business of DuPont for USD11 billion in, according to a company press release on 18 February. Lori Ryerkerk, chairman and CEO, Celanese Corporation, said, “The acquisition of the M&M business is an important strategic step forward and establishes Celanese as the preeminent global specialty materials company. For n...

The combined company from the merger between Faurecia and HELLA will be known as Forvia, and will be the seventh largest automotive supplier in the world, the company announced in a press release on 7 February. The new brand reflects both the companies’ evolving innovation and producing future ready sustainable solutions.     Patrick Koller, Faurecia CEO, said, “We are FORVIA! This new name reflects core elements of our Faurecia and HELLA brands, as well...

Westlake Chemical Corporation acquires Hexion’s global epoxy business for USD1.2 billion in an all-cash transaction, the company announced in a press release on 2 February.  The epoxy business to be branded as Westlake Epoxy.    Westlake President and Chief Executive Officer Albert Chao, said, “With this transaction, Westlake will significantly expand its integrated business by adding a leading downstream portfolio of coatings and composite products. Light weighting is a cr...

SABIC purchases Clariant’s 50% stake for USD130 million in specialties company Scientific Design, which is currently a 50/50 joint venture (JV) with SABIC, the company announced in a press release on 2 February. SABIC Vice Chairman and CEO, Yousef Al-Benyan said, “Catalysts are the foundation of our business. The acquisition of Scientific Design will strengthen our non-cyclical technology-oriented specialty business and move us closer to our long-term goal of becoming a global Specia...

ABC Technologies Holdings announced a definitive agreement to acquire Karl Etzel GmbH from the Schürrle family for around USD95 million, the company said in a press release on 21 January. Etzel entails a strong foothold as a leading tier-1 and tier-2 supplier to luxury German OEM.    Todd Sheppelman, president and CEO of ABC Technologies, said, “The acquisition of Etzel will provide ABC the opportunity to meaningfully expand our scale in Europe while entering the interior product...

Hanwha Solutions announced on 30 December that it signed an agreement with Samsung Electro-Mechanics to acquire its wireless module business unit responsible for manufacturing Wi-Fi and 5G mmWave antenna modules by using organic substrate, the company said in a press release on 4 January. According to Hanwha the deal is expected to close by late March in 2022. Jang Se Young, Hanwha Solutions, senior EVP, said, "Combining Samsung Electro-Mechanics' wireless module design-to-manufacturing capab...

ABC Technologies announced that it had entered into a definitive agreement to acquire dlhBOWLES from Morgenthaler Private Equity (MPE Partners) for around USD255 million, the company said in a press release on 6 January.   Todd Sheppelman, president and CEO of ABC Technologies, said, “The acquisition of dlhBOWLES further solidifies ABC Technologies’ leadership position in the North American washer systems market, strengthening our product portfolio to better serve our global cus...

CCL Industries announces acquisition of automotive interior company McGavigan Holdings, a supplier of in-mould decorated components for vehicle interior applications. Geoffrey T. Martin, president and CEO of CCL Industries Inc., said, “We have known McGavigan and its key people for many years, and are very pleased to welcome the team to CCL, where they will continue to focus on innovative specialty product designs for automotive interiors. This acquisition significantly expands our pre...

Shanghai SIIC Transportation Electric Co., Ltd. (STEC), subsidiary of China’s automotive parts supplier Huayu Automotive Systems Company Limited, agreed for a stake transfer agreement with Valeo International Holdng, the company announced in a statement released by Gasgoo on 28 December. Significance: As per the transaction agreement STEC will sell the company’s 27% stake in Valeo Shanghai Automotive Electric Motors & Wiper System Co., Ltd. at CNY397,955,733.48 (USD62,479,050) to VALE...

Flex completes its previously announced USD540 million all-cash acquisition of critical power solutions company Anord Mardix, the company announced in the press release on 1 December. “We are excited to complete this transaction and welcome the Anord Mardix team to Flex,” said Revathi Advaithi, CEO of Flex. “This transaction advances Flex’s shift toward higher margin lines of business and meaningfully strengthens our ability to offer leading data center power solutions for new and exi...

Yanfeng entered into an agreement with Adient to acquire Adient Asia’s 49.99% share in the Yanfeng Adient Seating Co, Ltd (YFAS) joint venture (JV) in China, the company announced in a press release on 3 December. As per the transaction, all current and future pipeline projects will transition to Yanfeng.  “We believe that making YFAS a wholly owned entity of Yanfeng further enhances our capabilities and product offering not only in seating but as a full-service supplier through cros...

Toyota Boshoku and Aisin has begun the transfer of commercial rights for the business of automotive seat frame mechanism parts, the company said in a press release on 2 November. Significance: The transaction of the automotive seat frame mechanism will increase and further strengthen global competitiveness of Toyota Boshoku’s automotive seat business. The transaction follows the transfer of automotive seat frame mechanism parts business for Toyota Motor Corporation from Aisin to Toyota Bosh...

Kongsberg Automotive ASA (Kongsberg Automotive) has signed an agreement for sale of its light-duty cables (LDC) business unit to Suprajit Engineering Limited (Suprajit), it said in a press release on 28 October. The LDC business unit is involved in the development and manufacture of mechanical and electro-mechanical light-duty cables catering to on-highway and off-highway applications. “We are convinced that this step allows Kongsberg Automotive to further focus our resources and investment...

Lear Corporation has signed an agreement to acquire Kongsberg Automotive’ Interior Comfort Systems (ICS) business unit, it said in a press release on 28 October. The ICS business is engaged in specializing with comfort seating solutions such as massage, lumbar, seat heat and ventilation for the auto industry. “By integrating Kongsberg Automotive’s Interior Comfort Systems business unit into our operations, we will build upon our strengths in design, engineering and operational excellenc...

Recticel has decided to dispose the Engineered Foams business, it said in a press release on 11 October. The decision comes with due consideration from the Board of Directors and Stakeholders to explore an independent Recticel without the Engineered Foams Business arm. The transaction depicts the sale of the Engineered Foams Business of Recticel to Carpenter Co. on a cash and debt free basis for EUR656 million (USD757 million). The sale includes potential distribution to shareholders, while k...

Magna International Inc. today announced that the board of directors of Veoneer, Inc. has determined that the previously announced proposal by Qualcomm Incorporated to acquire Veoneer for USD37 per share is a superior proposal under the terms of the previously announced merger agreement between Magna and Veoneer, and that Magna has waived the four-day matching period to make a counterproposal. Accordingly, Veoneer has terminated its merger agreement with Magna and entered into a merger agreement...

Gentex announced the acquisition of Guardian Optical Technologies, an Israeli startup that pioneered a unique, multimodal sensor technology designed to provide a comprehensive suite of driver- and cabin-monitoring solutions for the automotive industry, in a press release published on GlobeNewswire on 6 September. “Guardian utilizes artificial intelligence and computer vision algorithms to create comprehensive, in-cabin sensing functionality for today’s vehicles and the autonomous age,” ...

Faurecia has announced that it has reached an agreement with the Family pool and with HELLA to acquire a 60% stake in HELLA. According to press release issued by Faurecia and HELLA on 14 August, the transaction will be done through a mix of EUR3.4 billion (USD4 billion) in cash and up to 13,571,428 newly issued Faurecia shares (based on a reference price of EUR42.063 per Faurecia share). The completion of the transaction does not require any approval by the shareholders of Faurecia, and it is ex...

Smart Eye, a company that produces AI-based eye tracking and automotive-grade driver monitoring systems (DMS), has announced that it entered into an agreement to acquire Affectiva for USD73.5 million. According to a joint press release issued by the two companies on 25 May, Smart Eye and Affectiva will bring to market automotive-grade interior sensing AI, which will improve vehicular safety. Significance: Spun out of MIT Media Lab in 2009, Emotion AI solutions provider, Affectiva, has broaden...

European private equity firm, PAI Partners have agreed to acquire Pasubio, an Italian supplier of premium leather products to the automotive industry, from CVC Capital Partners VI, PAI said in a press release on 23 June. PAI said that it would support Pasubio’s management in its future growth plans, which include consolidating the fragmented global automotive leather market and also diversifying its offerings into other premium auto interior materials. Headquartered in Vicenza, Italy, Pa...

Smart Eye has entered into an agreement to acquire software startup Affectiva for USD73.5 million, according to a company press release on 25 May 2021. The two companies are merging to create a transatlantic artificial intelligence (AI) company to accelerate growth and development of the rapidly evolving automotive Interior Sensing market, as well as the Media Analytics and Human Factors Research markets, according to a Smart Eye press release. “As we watched the DMS category evolve into In...

Trèves Group has completed the acquisition of a majority stake in ROI Technologies, and along with partner Kotobukiya Fronte, the acquisition of CTA Acoustics, it said in a company press release on 4 April. The financial details of the deals were undisclosed. Headquartered in Cazzano-San Andrea, Italy, ROI Technologies is the automotive acoustics division of Miro Radici Family of Companies and supplies interior trimming parts to Stellantis. CTA Acoustics, headquartered in Michigan, US, offer...

Mutares SE & Co.  has signed a share purchase agreement with Adler Pelzer Holding GmbH, a company of the Adler Pelzer Group, for the sale of its entire majority shareholding of 73.25% in STS Group AG, according to separate press releases by STS and Adler Pelzer on 11 March. Mutares expects the deal to be successfully completed in the first half of 2021. Upon completion, Adler Pelzer Holding GmbH will acquire control over STS Group AG. According to Mutares, a purchase price of EUR7 (USD8...

Adient has entered into definitive agreements with Chinese joint venture (JV) partner Yanfeng Automotive Trim Systems to end its seating JV, Yanfeng Adient Seating (YFAS) in mainland China, the US-based automotive supplier said in a press release on 12 March. Under the agreements, Adient will sell its 49.99% stake in YFAS to Yanfeng Automotive. The company will also sell its minority interest in certain other JVs to the Chinese partner. Following the transaction, Yanfeng Automotive will operate ...

Faurecia has signed a memorandum of understanding (MOU) for sale of its Acoustics and Soft Trim (AST) division to the Adler Pelzer Group (APG), a manufacturer of automotive acoustic and thermal components and systems, the two companies said in separate press releases on 18 February. “We have taken the decision to focus our investment on our core product lines within the Interiors Business Group for which we have global market and technology leadership. We believe that the best future for ou...

Samvardhana Motherson Automotive Systems Group BV (SMRPBV) is acquiring a majority stake in Plast Met Plastik Metal San. İmalatveTic.A.Ş.(PM-Bursa) and Plast Met Kalıp San.veTic.A.Ş.(PM-Istanbul)—together known as Plast Met group (Turkey)—through its subsidiary Samvardhana Motherson Reflectec (SMR), according to a company press release on 18 January 2021. The company will acquire 75% stake in Turkish Plast Met Group. Founder of Plast Met Erol Senol will retain 25% stake in the Companies ...

Adler Pelzer Group has acquired the acoustic division of STS Group, according to a company press release on 30 October. The company announced completion of the acquisition after receiving the green light from antitrust authorities and other closing conditions. "We are very proud of this market strengthening transaction, which enhances the position of the Adler Group and its subsidiaries in the Acoustics segment for automotive and commercial vehicle customers and paves the way for further...

Adient completed the previously announced sale of its automotive fabric manufacturing business to Sage Automotive Interiors on 30 September, the US-based automotive supplier said in a press release on 1 October. Sage Automotive Interiors, a wholly owned subsidiary of Japan-based Asahi Kasai Group paid USD175 million for the business. Significance: In March 2020, Adient reached a definitive agreement to sell its automotive fabric business, including its lamination business, to Sage Automotive ...

Magna has signed an agreement to acquire majority ownership of Honglizhixin, a major seat supplier to Chinese automakers, the Canadian automotive parts supplier announced in a press release on 3 September 2020. At the same time, Magna will acquire a majority stake in its existing seating joint venture (JV) with Honglizhixin. Magna has signed a ‘Shareholder Agreement and Share Purchase Agreement’ and intends to finalize the deals by the beginning of 2021. “China is an important market fo...

Adient has completed the previously announced divestment of its stake in automotive interior joint venture, Yanfeng Global Automotive Interior Systems (YFAI) to its Chinese partner, Yanfeng Automotive Trim Systems, the company said in a press release on 21 August. The US-based automotive supplier received USD309 million for selling its 30% stake in YFAI. Adient will receive an additional USD60 million on a deferred basis. Adient will be eligible to receive an amount equal to 30% of YFAI’s d...

Swedish automotive technology provider, Veoneer, has announced that it has completed the divestment of its US-based brake control business unit. According to a press release issued by Veoneer on 11 August, the company stated that its US brake control business unit has been divested to German automotive components and systems manufacturer, ZF Friedrichshafen AG, for an agreed purchased price of USD1, net. The two companies have also agreed on collaborating on a transition plan for a limited durat...

Analog Devices (ADI) has signed an agreement to acquire Maxim Integrated Products in an all-stock transaction, the company said in a press release on 13 July. Under the agreement, Maxim stockholders will receive 0.630 of ADI stock for each Maxim share at the closing of the transaction. Upon closing, current ADI stockholders will own about 69% of the total entity, while Maxim shareholders will own about 31%. Analog Devices says the combined enterprise will be valued at over USD68 billion at th...

Recticel has completed the previously-announced divestment of its Automotive Interior division, the company said in a press release on 1 July. The Belgium-based company has also divested its 50% stake in joint venture (JV) company Eurofoam Flexible Foam to JV partner Greiner AG. Recticel generated net cash proceeds of EUR210 million (USD236 million) from these transactions. The planned divestments also reduces leasing debt by EUR36 million. “The closing of the transactions went smoothl...

Adient has agreed to modify its previously announced definitive agreement with Yanfeng Automotive Trim System for the sale of its 30% stake in YAFAI, the company said in a press release on 24 June. The US-based seating supplier will now receive USD369 million for selling its stake in YFAI, USD10 million less than USD379 million when the deal was first announced in January 2020. Of the total USD369 million, Adient will get USD309 million at the closing of the transaction and the remaining USD6...

The Chennai division bench of the National Company Law Tribunal (NCLT) has approved the merger of India-based KSS Abhishek Safety Systems (KSSA) with Takata India, according to a report by ET Auto on 30 May. The new amalgamated entity will be called Joyson Anand Abhishek Safety Systems (JAASS). All employees of KSS Abhishek Safety Systems will become employees of Takata India. Significance: The merger is part of a triparty joint venture (JV) announced in June 2019 by Anand Group. The triparty...

Japan-based chemical companies Nippon Shokubai and Sanyo Chemical have postponed their previously announced plans to merge their respective businesses and establish a joint holding company amid the uncertainty due to the coronavirus disease 2019 (COVID-19) pandemic, the two companies said in a joint press release on 13 April. The two companies were earlier planning to complete the merger and formation of the new company to be called Synfomix on 1 October 2020. However, the respective boards of N...

Recticel has entered into a definitive agreement with a Germany-based private investment firm Admetos GmbH to partially divest its ownership in Automotive Interior business, the company said in a press release on 6 April. Under the agreement, Recticel’s Automotive Interior division will be transferred to a new joint venture (JV) holding company, in which Admetos will have controlling stake of 51%, while Recticel will own the remaining 49%. The agreement also offers reciprocal call/put options ...

Adient has entered into a definitive agreement to sell its automotive fabric business, including its lamination business, to Sage Automotive Interiors for USD175 million, the company said in a press release on 5 March. The planned sale include 11 facilities, mainly in Europe, with 1,300 employees. Adient expects its fabric business is expected to generate a revenue of USD240 million in the current financial year ending 30 September 2020. The transaction, subjected to regulatory and customary clo...

Adient has agreed to sell its certain patents and other intellectual property exclusively used in the seating mechanism business to Adient Yanfeng Seating Mechanisms (AYM) for USD20 million, the company said in a press release on 31 January. Post transaction, AYM will license the intellectual property back to Adient. Adient and AYM have also agreed to license each other certain other intellectual property related to the seating mechanisms business. “We value our strong relationship with Yan...

Adient has sold its premium automotive seating brand Recaro to Raven Acquisition, a US-based investment company, Crain’s Detroit Business reported on 31 December. The transaction became effective on 1 January 2020. Recaro has operations at three locations, one each in Europe, the United States and Japan, employing a total of about 425 people. The company generated sales of USD150 million in FY2018/19, ended 30 September 2019. Significance: Johnson Controls, which later separated its auto...

Adient has reached an agreement with Yanfeng Automotive Trim Systems to sell its 30% stake in joint venture (JV), Yanfeng Automotive Interior (YFAI), for USD379 million, the company said in a press release on 31 January. Adient and Yanfeng Automotive also agreed to extend the term of another JV, Yanfeng Adient Seating (YFAS) to 31 December 2038. In addition, Adient has agreed to sell its certain patents and other intellectual property exclusively used in the seating mechanism business to Adie...

Toray Industries, Inc. has completed its previously announced acquisition of Alva Sweden AB, a manufacturer of cushions for automotive airbag systems, on 7 January, according to a company press release. Subsequent to the transaction, Alva Sweden AB retains its company name. Alva has been manufacturing cushions for automotive airbag systems in Europe since 1997. The Swedish company has two subsidiaries, Alva Confecções S.A. of Portugal and Alva Tunisia SA of Tunisia. Avla, which has about 1,...

Yanfeng Automotive Interiors is selling its automotive interior plant in Grand Rapids, Michigan, United States, to a local private equity firm Green Light Growth Partner, MiBiz reported. The plant manufactures interior trim components for the automotive industry and is equipped with injection molding, paint and assembly capabilities. It has 400 employees. The transaction is expected to complete in the month of December. “We are selling Grand Rapids to balance our product portfolio, optimize...

Faurecia has signed a Memorandum of Understanding (MOU) with Continental to acquire the German supplier’s 50% stake in their equally-owned joint venture (JV), SAS Automotive for EUR225 million (USD248 million), the company said in a press release on 14 October. SAS, founded in 1996, is a major supplier of interior modules, operating 19 facilities and employing 4,490 people. The company expects net sales of EUR700 million in 2019. Faurecia aims to complete the acquisition in early next 2020. ...

Woodbridge has bought the entire stake in its Chinese joint venture (JV), Woodbridge GSK High Polymer Technology (WGSK), from its partner GSK Corporation, the company announced in a press release on 23 September. The acquisition includes molded foam manufacturing operations in China in Wuhan (WGSK), Guangzhou (Guangzhou Woodbridge GSK High Polymer Technology), and Shanghai (Shanghai Woodbridge GSK Auto Parts). Upon regulatory approval, GSK’s shares will be transferred to Woodbridge. “Wood...

MARELLI has announced plans to reorganize its production bases in Japan, the company said on 12 September. The planned move will result in the group’s company Calsonic Kansei Tochigi Corporation ceasing production at its Tochigi and Sano plants, both in Tochigi Prefecture, at the end of February 2020. The company’s Tochigi plant produces cockpit module parts and interior products and the Sano plant manufactures heat exchange and climate control systems. The two plants, operated by Calsonic K...

Calsonic Kansei and Magneti Marelli will officially change their respective legal company names to MARELLI from next month, the two companies said in a joint press release on 9 September.  While Calsonic Kansei Corporation will change its name to MARELLI Corporation, Magneti Marelli S.p.A will change its name to MARELLI Europe S.p.A. The two companies also plan to change the names of their major affiliate companies to MARELLI from next month. “This is an exciting step forward on our jo...