Mahle sells its thermostat business
Automotive supplier Mahle plans to sell its thermostat business to the industrial and investment holding company ADMETOS.
At the beginning of August, the two parties signed a contract to this effect. ADMETOS intends to take over development and production with around 600 employees in six countries. ADMETOS is an owner-managed industrial and investment holding company with experience in the automotive sector.
With its new strategy, Mahle is focusing on electrification and systems for thermal management as well as cost leadership in components for highly efficient, green combustion engines. In this context, the group has decided to sell its thermostats product group, as this will not represent a strategic Mahle business segment.
“With ADMETOS, we have a buyer that will focus its attention and energy on the thermostat business and lead it purposefully outside the MAHLE Group into the future,” says Jumana Al-Sibai, member of the Management Board of the Mahle Group responsible for thermal management, in a press release. The product group has a broad customer portfolio with long running times for orders placed.
“We plan to expand the thermostat business. We see further potential in industrial applications and growth opportunities through portfolio expansions also outside the mobility sector,” adds ADMETOS managing directors Kai Dorn and Florian Prettl.
The sale involves locations Qingdao in China, Berga in Germany, Querétaro in Mexico and the development area for thermostats in Stuttgart, Germany.
In Mühlacker, Germany, Busan, South Korea, Grugliasco, Italy and Holýsov in the Czech Republic, only the production areas for thermostats are affected – but not the other product groups located there.