ERJ staff report (LMH)
Frankfurt, Germany – Tokai Rubber Industries Ltd has signed an agreement to acquire the entire share capital of automotive anti-vibration systems manufacturer Anvis Group GmbH.
The move will accelerate the company’s global expansion and access to foreign OEMs, Tokai said in a statement. It did not disclose financial details of the transaction.
Tokai president Yoshiaki Nishimura said the acquisition will improve Tokai’s access to Japanese and non-Japanese OEM customers and “enable us to actively respond to the needs of the global supply chain.” The two companies had previously announced a joint venture in Mexico.
The deal provides Tokai with Anvis’ technology for small to mid-sized cars, its manufacturing facilities in Europe and a strong relationship with European customers. Anvis reported Euro 305 million in sales in 2011 and has some 2000 employees in 13 locations in nine countries.
The closing of the transaction is subject to approvals and other factors laid out in the purchase agreement.
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Press release from Tokai