Kolektor Group acquires Conttek Group

In order to strengthen its business unit for the manufacturing of hybrid components, which is a part of the strategic business unit Mobility Components and Systems, Kolektor decided to upgrade and complement its existing technologies. Through this acquisition, Kolektor will be able to become one of the bigger players in the field of hybrid components in the European as well as international markets, a press release states. The purchase agreement has been concluded and the application for a consent, necessary for the final transfer of ownership, was submitted to the German Competition Authority. Kolektor and Conttek Group have not disclosed any further information in regards to the agreement and the terms and conditions of the transfer of ownership. The Conttek Group has an annual turnover of around EUR 50 million and employs over 500 people.