Frankfurt, Germany – Tristone Flowtech Group has acquired Anhui Zhongding Rubber Hose Products Co. Ltd in Ningguo, in eastern China from its parent company Anhui Zhongding Sealing.
The deal, terms of which were not disclosed, was completed on 1 Jan and the Chinese entity has been renamed as Anhui Tristone Flowtech Ltd, Tristone announced 13 Jan.
The Ningguo-based automotive supplier produces engine and battery cooling hoses as well as air charge hoses to local OEMs, the Tristone press release added.
In 2019, the Chinese hose maker registered sales of €34 million and employed 544.
This year, Tristone said, the operation is expecting a 10% annual growth in revenue to €38 million.
Commenting on the deal, Froelich, President & CEO, Tristone Group said the acquisition would strengthen the German hose maker’s core activities in China, while enabling further access to local OEMs.
“With our two production plants in China in Ningguo and Suzhou, Tristone Group will be in a position to offer a broader product portfolio in our business fields,” he added.
In addition to cooling hoses and air charge hoses, Tristone offers wrapped turbocharged hose systems, plastic PA pipe systems and plastic surge tanks in China.
In the future, the company expects to expand its offerings with more plastic products as well as rubber engine cooling hoses manufactured by its automated Creatube technology.
Having registered sales of €306 million in 2019, Tristone anticipates a 20% organic growth to €364 million in revenues in 2020. Furthermore, the Chinese acquisition is expected to push the company’s sales figures to €400 million.
A spin-off of the former Fluid Automotive business unit of Trelleborg AB in July 2010, Tristone operated as a stand-alone company until February 2017 when it was acquired by the Zhongding Group.