SOLVAY INTENDS TO SELL AUTOMOTIVE AIR SYSTEMS AND TECHNICAL PARTS ACTIVITIES TO MANN+HUMMEL

22-Oct-2001

Solvay, Brussels, and the Mann+Hummel Group, Ludwigsburg, signed a Memorandum of Understanding aiming at the sale of Solvay's automotive Air Induction Systems and Technical Parts activities to Mann+Hummel. The confirmation of this preliminary agreement is subject to the approval of the relevant national competition authorities, following consultation with the social partners in all relevant countries as well as with Solvay's European Works Council.

Solvay's Air Induction Systems and Technical Parts activities include the development and manufacturing of plastic automotive components for engine air induction systems, reservoirs and tanks, engine covers, HVAC (heating, ventilation, air conditioning) and engine cooling ducts, windscreen wash systems, headlamp cleaning system. They are expected to generate a global turnover of some EUR 150 million in 2001, with 1,100 employees and 8 production facilities worldwide - in France, Germany, Spain, the United Kingdom, the United States and Brazil - as well as a research and development center in Belgium.

"The Mann+Hummel Group is a world-class player and would be an ideal environment for the development of our Air Induction Systems and Technical Parts activities", said Jacques van Rijckevorsel, General Manager of the Processing Sector of Solvay and member of the Group's Executive Committee. "The perpetuation of these activities would furthermore be sustained by the complementarity of our products, markets and technologies with those of Mann+Hummel", van Rijckevorsel said.

Jacques van Rijckevorsel added: "In our automotive Business Unit, Solvay will now fully concentrate on its core business as a world leader in fuel systems, in the framework of Inergy Automotive Systems, our joint venture with Plastic Omnium"

The acquisition of these Solvay activities allows Mann+Hummel to complete its product range and constitutes another important step towards globalisation for the company. It will strengthen the market position of Mann+Hummel in air induction systems in Europe and in North America.

https://www.chemeurope.com/en/news/5536/solvay-intends-to-sell-automotive-air-systems-and-technical-parts-activities-to-mann-hummel.html