LUDWIGSBURG, GERMANY (Sept. 5, 10 a.m. ET) — German auto supplier Mann + Hummel GmbH is expanding its presence in China by acquiring Bengbu Haoye, a manufacturer of filters for the automotive industry, for an undisclosed sum.
Josef Parzhuber, CEO of Mann+Hummel in Asia Pacific, says the deal will “enhance our range of products and complete our coverage for local vehicle applications.”
Located near Shanghai, Bengbu Haoye makes filter and filter elements for local OEMs, and posted sales of around 13 million euros ($16.4 million) in 2011.
The announcement comes hot on the heels of Mann+Hummel opening a fourth plant in China. In June the company said it was opening an injection molding facility for air intake manifolds, engine cam covers and air cleaners.
China is a very important market for the company, which hopes to increase the Asian share of group sales from the current level of 17 percent to 25 percent by 2018.