VELBERT, Germany, November 30, 2011 /PRNewswire/ --
Huf Hülsbeck & Fürst GmbH & Co. KG (Velbert, Germany) and BorgWarner BERU Systems GmbH (Ludwigsburg, Germany) agreed that Huf Electronics (Düsseldorf, Germany) will take over the tire pressure monitoring system business and therefore acquire all shares in the subsidiary BERU Electronics GmbH. The automotive supplier located in Bretten, Germany employs about 230 people. Subject to approval by the antitrust authorities the merger will take place at the turn of this year.
BERU Electronics has specialised in the development and production of tire pressure control systems. In this area the company holds a significant market share in Europe. "We are planning to expand this segment even further and will use synergies to our existing product range. The product spectrum of Huf and BERU Electronics match quite well", states Ulrich Hülsbeck, CEO of the Huf Group. Car drivers can watch the tire pressure permanently by installing a tire pressure monitoring system. Correct tire pressure optimises fuel consumption leading to a reduction in CO2 emission. In the USA there already exists a legal obligation to embed tire pressure systems into all new cars. In Europe tire pressure monitoring systems will most likely become mandatory from 2014 onwards.
The Huf Group is operating world-wide as an automotive supplier in the area of electronic and mechanical locking systems, car access systems, passive entry systems, door handle systems, driver authorisation and tailgate systems. In 2010, Huf Group achieved a turnover of about 847 million Euros. Huf Electronics, which Huf acquired as the electronic department of Kiekert AG in 2008 and where Huf bundles all electronic production, has established itself successfully in the market. 5,500 people are employed with Huf in 16 companies in Germany, the USA, Mexico, Brazil, Great Britain, Portugal, Spain, Poland, Romania, China, India, Japan and Korea. Headquarters is in Velbert, Germany.
For further information:
Huf Hülsbeck & Fürst GmbH & Co. KG /
Huf Electronics GmbH
Ute J. Hoppe
Steeger Straße 17 42551 Velbert
Tel. +49-02051/272-572 Fax +49-02051/272-111
SOURCE Huf Hulsbeck & Furst