ContiTech to buy Freudenberg's brake component business

ERJ staff report (DS)

Weinheim, Germany - Contitech has signed an agreement covering the purchase of the mouded brake component operations from Freudenberg Sealing Technologies, of Weinheim.

The effective transfer of the moulded brake components business from Freudenberg Sealing Technologies to ContiTech is still subject to approval by the antitrust authorities. With a workforce of some 500, Freudenberg develops and produces moulded brake components in Andrezieux, France; Queretaro, Mexico; and Oberwihl, Germany.

ContiTech is also setting up a greenfield plant for oil handling hoses in Brazil . “At roughly €17 million, it is our biggest single investment this year”, said ContiTech CEO Heinz-Gerhard Wente in Hanover.

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Press release from ContiTech