FTE automotive and SBS enter into a Joint venture
The official start of the cooperation named SFMC s.r.o. (SBS / FTE Manufacturing Cooperation) will be in April, start of production is planned for June 2011. For FTE automotive this is the second production site in Slovakia, the company already produces brakeparts in Prešov.
The new partner Scandinavian Brake Systems A/S (SBS) develops, produces and distributes brake parts for the automotive aftermarket and is supplying energy and industrial systems. The SBS Group is headquartered in Svendborg (DK) and has three additional production and logistics sites in Denmark as well as central warehouses and distribution centres in Germany and France. The company is listed on Copenhagen Stock Exchange since 1989.
Dr. Andreas Thumm, CEO of the FTE automotive Group, feels confident that SBS is the right partner for the new Joint Venture: „The remanufacturing of calipers is a good extension of our current Aftermarket product range in the brake hydraulics sector. It is environmently friendly and saves our natural resources.”
The Managing Director and CEO of SBS, Hans Fuglgaard, is as well happy about the new cooperation: “FTE automotive fits perfectly to our company. With the establishment of the SBS-FTE Manufacturing Cooperation in Prešov, we increase our product capacity and strengthen our competitiveness. At the same time, the cooperation gives us the opportunity to sell our products to customers that SBS does not supply today.”
Scandinavian Brake Systems A/S is a Danish, listed company. In 2010 the revenue of the company amounted to approx. 130 million Euro. The company`s headoffice is located in Svendborg. The SBS Group has approx. 600 employees in Denmark, Germany and France.