Heitkamp & Thumann Group and Hamaton Automotive Technology agree on Sale of Westfalia Metal Hoses
- Share Purchase Agreement for Business Unit Westfalia Metal Hoses is signed
- Good for the Future of Westfalia Metal Hoses
- Strategic Focus of Heitkamp & Thumann Group on Battery Components and H&T Presspart
- Closing of Transaction expected until October 31, 2019
Düsseldorf, May 10, 2019 – Heitkamp & Thumann Group agreed with Hamaton Automotive Technology Co. Ltd. on the sale of the operations of its Business Unit Westfalia Metal Hoses. The closing of the transaction, subject to approval by merger control and other authorities including feedback from the Shenzhen Stock Exchange is expected until end of October of this year.
Christian Diemer, CEO und General Partner of Heitkamp & Thumann Group: „By this transaction our Group will concentrate its growth on our Divisions H&T Battery Components und H&T Presspart.”
Dr. Stefan Hauk, who will continue to manage Westfalia Metal Hoses under the new ownership adds: „The new ownership of Hamaton Automotive Technology will present for Westfalia Metal Hoses attractive opportunities for the future. With Hamaton we will be closer to the largest automotive and commercial vehicle market of the world.”
“The acquisition is part of our growth and diversification strategy. It widens our product range, our international footprint as well as our production capacities in an ideal way.” explains Jack Zhang, President and majority owner of Hamaton Automotive Technology.
Hamaton Automotive Technology currently has two production sites in Hangzhou (China) and sales offices in China, USA and the United Kingdom. Production capacities of Westfalia Metal Hose are concentrated in two European sites, Westfalia Metallschlauchtechnik, Hilchenbach (Germany) and Westfalia s.r.o., Hustopece (Czech Republic), where about 400 of a total of the 500 employees are located. Furthermore there are operations in Bristol, Connecticut (USA) and Shanghai (China).