Kassel, Germany — Hubner GmbH & Co. KG has reached an agreement to divest its automotive segment to automotive supplier Gotec Gorschluter GmbH.
Based in Wuelfrath, Germany, Gotec is a global specialist for coating with rubber to metal adhesion technology, said Hubner in a 2 Dec release.
Gotec’s automotive segment includes production of auto body parts, car key shells, keypads and accelerator pedals.
The deal is expected to be completed 1 April, according to Hubner.
Financial details were not disclosed, but Hubner said that annual revenues for its automotive segment were in the "single-digit million range."
Hubner personnel will provide training for Gotec's work force beginning in January and be available to Gotec in an advisory capacity through 30 June.
The sale does not involve the termination of any employees as all permanent employees have received an option to remain at the company, Hubner general manager Ingolf Cedra said in a statement.
Gotec intends to initially maintain the automotive segment's production in Kassel and will be leasing facilities at Hubner's plant in Bettenhausen, Germany, according to Hubner's news release. The lease agreement runs until mid-2021.
The move is part of Hubner’s ongoing effort to restructure its Material Solutions business segment, which employs more than 1,000 globally at 13 locations.
Hubner consists of three segments — Mobility, Material Solutions and Photonics — with 3,300 employees at more than 30 global locations.
The company said it will focus on “innovative, technologically sophisticated industries”, supplying solutions based on materials such as plastics and elastomers – including rubber and silicones – with increasing use of sensor systems.
One of Hubner's main goals going forward is to focus on its market position in the area of door safety and sealing systems for public transport applications.
Hubner supplies finger protection profile with integrated sensors to bus and railway manufacturers worldwide.
Cedra added that the firm will also focus on the oil and gas, aviation, and health care industries.
Gotec said in a statement that the acquisition will complement its product range, making it a stronger partner for the automotive industry going forward.