MANN+HUMMEL signed an agreement with Bengbu Haoye Filter Co., Ltd to take over 100% of the filter manufacturer based in Anhui Province, China
MANN+HUMMEL has more than 50 locations worldwide, employing around 14,400 people and recording about 2.5 billion EUR sales in 2011. MANN+HUMMEL offers leading filtration technology to both automotive and industrial OE and aftermarket customers in China since 1996. In the independent aftermarket, the filtration specialist meets the customer’s requirements through the premium MANN-FILTER brand products with clearly defined OE specification.
For more than 16 years, Bengbu Haoye has specialized in supplying various types of filters primarily to the automotive aftermarket. In 2011 the company generated a turnover of around EUR 13m and employs more than 500 people.
The acquisition of Bengbu Haoye is a logical step in the MANN+HUMMEL expansion strategy in China. A local well-known brand with focus on domestic applications together with an extended product range and well developed distribution network offers a good strategic fit to the established MANN-FILTER footprint in China. In addition to the new aftermarket portfolio, MANN+HUMMEL aims to offer from its new production base in Bengbu competitive and market-specified solutions in particular to local OEM customers. (Transaction structure: 100% acquisition. Deal Value: undisclosed. Date: August 30, 2012)