ERJ staff report (AN - Hans Greimel )
Webasto Group, a German maker of automotive roof and heating systems, has agreed to buy the North American convertible roof business of bankrupt supplier Wilhelm Karmann GmbH.
The deal, signed yesterday, puts Webasto in control of Karmann's business in the United States and a factory in Mexico, Webasto said today in a statement. The price wasn't disclosed.
The purchase furthers Webasto's expansion in North America, following last year's takeover of the convertible roof operations of Edscha. Webasto's convertible roof unit, realigned under the name Webasto-Edscha Cabrio, has 1,350 employees, making soft- and retractable hard-top roofs.
Karmann's assets will be rolled into Webasto-Edscha, adding 150 employees. Karmann's North American operations have annual sales of roughly $40 million, Webasto said. Erik Roeren, former president and CEO of Karmann US, will keep his position, Webasto said.
From Automotive News (A Crain publication)
Press release from Webasto (English language)
Press release from Webasto (German language)