MAHLE acquires the Air Intake Module and Air Filtration Business Division from Siemens VDO Automotive
Stuttgart/Germany, January 8, 2007–The MAHLE Group, headquartered in Stuttgart, Germany, announced today that they intend to acquire the air intake module and air filtration business segment for combustion engines from Siemens VDO Automotive. A corresponding binding agreement has been signed. With this acquisition, the company is expanding its market presence particularly in North America and Asia and is complementing the technology portfolio in this product division. Within the frame-work of the acquisition, MAHLE will acquire about 1,000 employees working for Siemens VDO in this business segment.
Siemens VDO develops and produces air management systems at locations, including Canada, Mexico, the United Kingdom as well as China and achieves an annual sales volume of approximately 300 million euros in this business segment. MAHLE already commands a strong market position in Europe and Asia, and is among the leading automotive suppliers for air intake modules and air filtration products.
The Air Management Systems product line is one of five product lines of the MAHLE Group, which contributes approximately 15 percent of the company’s sales in the current business year. Prof. Dr. Heinz K. Junker, Chairman of the Management Board of the MAHLE Group explained: “The development of innovative air management systems for combustion engines is one of our core competencies. The acquisition of the activities of Siemens VDO in this business segment is a strategically important step for us. We will benefit from technological additions and above all gain new customers in the American and Asian markets. At the same time, we are able to optimize our worldwide production and development network. Together with the Siemens VDO activities we will be able to achieve sales in this business area in excess of 1 billion euros. Accordingly Air management and air filtration will account for approximately 20 percent of our future group revenues.”
Both companies agreed not to disclose the purchase price. The acquisition is still subject to the approval of the anti-trust authorities. A decision is expected in the coming weeks.
The MAHLE Group is one of the leading global manufacturers of components and systems for the combustion engine and its peripherals – from Piston Systems, Cylinder Components, Valve Train Systems to Air Management Systems and Liquid Management Systems. With approximately 37,500 employees in over 80 production plants and seven R&D centers, MAHLE anticipates sales of approxi-mately 4.3 billion euros in 2006, positioning the company among the top 30 largest automotive suppliers globally.
Siemens VDO Automotive, a group of Siemens AG, is one of the world’s leading suppliers of electronics and mechatronics for the automotive industry. With its products, it enables individual mobility and the efficient transportation of goods by road in modern societies. As development partner of the automotive industry, the company manufactures automotive electronics and mechatronics for reducing emissions, enhancing safety and driving comfort, and keeping drivers informed and in touch with the outside world. Siemens VDO generated sales of over 10 billion euros in the 2006 business year (30.9.2006).