Auto Industry
Industry: Email Alert RSS FeedBrose buys Siemens motor unit as step toward N.A. growth.(Suppliers)
Automotive News, January, 2008
Byline: April Wortham
Germany's Brose Group hopes to use the first spoils from Continental AG's takeover of Siemens VDO Automotive AG to propel its own growth spurt in North America.
On Dec. 20, Brose agreed to purchase the electric motor operations of the former Siemens VDO from new owner Continental. Terms were not disclosed. The transaction is subject to approval from antitrust authorities.
Included in the sale is the former Siemens VDO's electric motor business for window regulators, antilock brake systems, heating and ventilation systems, engine cooling and electric power steering.
The sale also includes Continental's cooling-fan business, which belonged to Continental before its $16.71 billion acquisition of Siemens VDO on...
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