Daetwyler completes acquisition of Asian affiliates

ERJ staff report (DS)

Dettingen / Erms, Germany - The Datwyler Group has completed the acquisition of its affiliated Asian companies, originally announced last August.

The antitrust authorities approved the transaction without imposing any restrictions. Thus, Dätwyler Holding Inc. has become the owner of Anhui Zhongding Sealtech Inc. (Zhongding), with one plant in China, and Hankook Sealtech Inc. (Hankook), with two plants in South Korea and a 40 percent joint venture interest in an Indian plant.

Together, Zhongding and Hankook are Asia's leading supplier of rubber seals and gaskets for the automotive industry. Their four facilities employ close on 2,000 people, about three quarters of them in China. Ranking as the market leader in China, Zhongding has strong relationships with local Chinese and global customers.

With this acquisition, the Datwyler Group is making a strategic quantum leap in the growth of its automotive business in Asia and consolidating its position as the leading global supplier of high-precision sealing components.

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Press release from Daetwyler Holding