MAHLE Acquires the Air Intake Module and Air Filtration Business Division From Siemens VDO Automotiv
The MAHLE Group, headquartered in Stuttgart, Germany, announced today that they intend to acquire the air intake module and air filtration business segment for combustion engines from Siemens VDO Automotive.
A corresponding binding agreement has been signed. With this acquisition, the company is expanding its market presence particularly in North America and Asia and is complementing the technology portfolio in this product division. Within the framework of the acquisition, MAHLE will acquire about 1,000 employees working for Siemens VDO in this business segment.
Siemens VDO develops and produces air management systems at locations, including Canada, Mexico, the United Kingdom as well as China and achieves an annual sales volume of approximately 300 million euros in this business segment. MAHLE already commands a strong market position in Europe and Asia, and is among the leading automotive suppliers for air intake modules and air filtration products.
The Air Management Systems product line is one of five product lines of the MAHLE Group, which contributes approximately 15 percent of the company's sales in the current business year. Prof. Dr. Heinz K. Junker, Chairman of the Management Board of the MAHLE Group
explained: "The development of innovative air management systems for combustion engines is one of our core competencies. The acquisition of the activities of Siemens VDO in this business segment is a strategically important step for us. We will benefit from technological additions and above all gain new customers in the American and Asian markets. At the same time, we are able to optimize our worldwide production and development network. Together with the Siemens VDO activities we will be able to achieve sales in this business area in excess of 1 billion euros. Accordingly Air management and air filtration will account for approximately 20 percent of our future group revenues."