One of the Largest Acquisitions in ContiTech’s History
ContiTech Fluid Technology
August 2012ContiTech acquires the automotive air conditioning business of Parker Hannifin, strengthening its position in the NAFTA region and Asia.
ContiTech is strengthening its business in hose lines for the automotive industry. Fluid Technology business unit takes over the automotive air conditioning business of the Collierville, Tennessee-based Mobile Climate Systems division of Parker Hannifin Corporation. This acquisition includes plants in Mexico (Monterrey and Montemorelos), the Czech Republic (Chomutov), South Korea (Chonan) and China (Wuxi). ContiTech will take on approximately 1,000 employees in total from this acquisition. It is one of the largest acquisitions in ContiTech’s history. The relevant agreements have been signed on August 13, 2012. The transaction is still subject to the approval of the antitrust authorities.
“The acquisition is perfectly in line with our growth strategy,” says ContiTech CEO
The acquired business manufactures refrigerant control and containment components for passenger car and light truck vehicle air conditioning applications.
Purchase agreement signed (from left to right): Christian Nöll, head of the Air Conditioning Segment, Rick Izor, General Manager of Mobile Climate Systems at Parker, Matthias Schönberg, head of the Fluid Technology Business Unit, Tom Healy, Corporate Vice President of Parker and Bertrand Bogaert, General Manager of ContiTech Fluid Mexicana.