Huf to acquire Beru TPMS business  The sale includes a plant in Bretten, Germany, Beru Electronics G.m.b.H., which employs approximately 230 people. Completion of the transaction is subject to regulatory approvals and could be completed by early 2012, Huf said. Terms were not disclosed, but BorgWarner said it expects to book a loss of $10 million to $15 million on the transaction. BorgWarner acquired the Beru TPMS business in 2005 as a small piece of its purchase of the Beru diesel cold start and ignition systems business. The product is known as the Beru Tire Safety System (TSS). While not disclosing Beru Electronics annual sales, Huf Electronics said the business holds a significant market share in Europe, where the industry expects TPMS likely will become mandatory from 2014 onwards. "We are planning to expand this segment even further and will use synergies to our existing product range," said Huf Group CEO Ulrich Hulsbeck. "The product spectrum of Huf and Beru Electronics match quite well." While the TPMS product technology has been developed continuously and meets the upcoming strict European standards, the firm said, it departs from BorgWarner's focus on powertrain technologies. Beru TSS is OE on vehicles from Audi A.G., BMW A.G., Lamborghini, Land Rover, Maserati, Mercedes-Benz A.G., Porsche A.G., Rolls-Royce and Volkswagen A.G. Huf Electronics is a unit of Huf Hulsbeck & Furst GmbH & Co. KG. of Velbert, Germany, a producer of mechanical and electronic key systems, lock sets, steering locks and remote control systems for the automotive industry. Huf Group reported sales of $1.1 billion in 2010. Tire Business staff report Source: http://www.tirebusiness.com/subscriber/headlines2.phtml?cat=1&id=1322745742 |