ContiTech divests Veyance Technologies' Air Springs Business in the NAFTA Region

摘要

ContiTech AG, the world's largest manufacture in the non-tire rubber sector, is selling Veyance Technologies' North American air springs business to EnPro Industries Inc. The air springs business will be managed as part of North Carolina-based EnPro's STEMCO division. The German company had been required by anti-trust authorities in the US, Mexico and Brazil to divest the business as part of ContiTech's acquisition of Veyance Technologies Inc. -a spinoff of Goodyear-in February 2014. The transaction includes about 500 employees in San Luis Potosi, Mexico, and about 30 commercial and R&D employees in Ohio and in Canada. The terms of the transaction were not disclosed but it is subject to regulatory approval and expected to close in July.