Majority acquisition of Behr delayed
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Stuttgart, July 13, 2012 – The majority acquisition of Behr by MAHLE, scheduled for early next year, has been delayed. As a shareholder, MAHLE was informed by the Behr Management that investigation proceedings had been initiated against manufacturers of thermal systems for automobiles for suspected competition-restricting practices, which proceedings also concern Behr. The European Commission requested an inspection at Behr in Stuttgart/Germany in May. In the United States, the local Department of Justice has also launched investigations.
MAHLE as a Company is in no way affected by this inspection. The subject of the investigations pertain to circumstances involving exclusively Behr.
The aim of acquiring the majority holding in Behr and of integrating Behr fully into the MAHLE Group is ongoing. However, it will be delayed as a result of the antitrust investigation proceedings.
Prof. Heinz Junker, Chairman of the Management Board of the MAHLE Group, commented: “We are still interested in acquiring the majority holding in Behr, but only after circumstances have been fully clarified and potential implications have been resolved. Any anticompetitive behavior is unacceptable for MAHLE. Our trusting cooperation with our business partners, customers, and colleagues is based on compliance with laws and regulations. Competition is crucial for long-term success and the driving force for innovation, efficiency, and customer focus.”
Company and business development
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. MAHLE’s industrial activities are combined in the Industry business unit. 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. Around 49,000 employees work at over 100 production plants and eight research and development centers. In the first half of 2012, the Company achieved sales of EUR 3.2 billion, which corresponds to an increase of eight percent in comparison with the same period in 2011.