FTE automotive acquires Brake Caliper Business from Scandinavian Brake Systems (SBS)
The agreement is subject to a number of usual conditions, including approvals by relevant competition authorities. These are expected to be fulfilled.
Since 2010, SBS and FTE had a joint venture for remanufacturing production of brake calipers on a common production platform in Presov, Slovakia, with owner’s shares of 51% (SBS) and 49% (FTE), respectively. With the signed agreement, FTE acquires the entire remanufacturing production of brake calipers, i.e. the remaining owner’s share of the production in Presov and the remanufacturing production in Stoevring, Denmark. The agreement includes all employees in Stoevring associated with the caliper production. Employees associated with the distribution activities in Stoevring remain in SBS.
Andreas Thumm, CEO of FTE automotive:
“The acquisition of the brake caliper business from SBS is a further step in FTE’s strategic growth path. The successful integration of the remanufacturing of brake calipers supports the strategic development of our aftermarket business significantly.”
Hans Fuglgaard, CEO of SBS:
"The divestment can be seen as a natural consequence of the core skills that FTE and SBS until now have contributed with in the cooperation. FTE has industrial skills and thus the opportunity to develop the production further. SBS has a thorough knowledge of the automotive aftermarket for calipers and other wear parts combined with an effective international distribution net-work."
About FTE automotive
The FTE automotive Group is your competent partner in the sector of development and production of drive train and brake system applications for the automotive industry. The company is located in all important continents and is one of the leading OE-suppliers for passenger cars and commercial vehicles worldwide. In 2013, the company achieved sales of approximately EUR 450 million.
About Scandinavian Brake Systems A/S
Scandinavian Brake Systems A/S is a Danish listed company within development, production and distribution of brake parts and related wear parts for cars, motorcycles, wind turbines and other specialized areas with revenue of DKK 1,030 million in 2013. The company is headquartered in Svendborg, Denmark, with approx. 475 employees in Denmark, Germany, France and Russia. After the transaction SBS will have approx. 360 employees.