MAHLE increases participation in Behr
Stuttgart, March 1, 2011—Planned increase of MAHLE's participation in Behr to 36.85 percent successfully completed.
MAHLE GmbH, based in Stuttgart, had already increased its share from 19.9 to 36.85 percent in January 2011 as part of the planned acquisition of the Behr Group. As in the first stage, the most recent step was completed by way of a unilateral capital increase, in order to further strengthen the financing and balance sheet structure of the Behr Group.
"We are completely on schedule," said Prof. Dr. Heinz K. Junker, Chairman of the MAHLE Management Board. "At present, we are very confident that our share in the Behr Group will be increased to more than 50 percent on January 1, 2013, thus allowing full integration into the MAHLE Group."
The preparations already underway for the integration are led by a specially organized integration team comprised of employees from all specialist functions. The main task of the integration team is to analyze structures and processes to determine their adaptability, and to ensure communication between the companies at the most important hierarchical levels.
"We are making good progress and are optimistic that, with our complementary product range, the integration of Behr into the MAHLE Group will allow us to further expand and improve our market position. This applies to systems environments for modern combustion engines, alternative power train technologies, and complete thermal management for vehicles," continued Prof. Junker.
The MAHLE Group is one of the 30 largest companies in the automotive supply industry worldwide. With its two business units Engine Systems and Components and Filtration and Engine Peripherals, MAHLE ranks among the top three systems suppliers worldwide for piston systems, cylinder components, as well as valve train, air management, and liquid management systems. The Industry business unit bundles the MAHLE Group's industrial activities. These include the areas of large engines, industrial filtration, as well as cooling and air-conditioning systems. The Aftermarket business unit serves the independent parts market, supplying MAHLE products in original equipment quality. In 2010, the MAHLE Group anticipates sales in excess of EUR 5 billion; around 45,000 employees work at over 100 production plants and eight research and development centers.