German automotive supplier Aunde Group has signed a deal to acquire local car parts manufacturer F.S. Fehrer Automotive GmbH. The acquisition is expected to be completed in September, once the contract is approved by Germany's antitrust watchdog.
Kitzingen, Germany-based Fehrer has a product portfolio consisting of interior parts, console parts, backrests, seat modules and other car components manufactured with the use of various plastics, including polyurethane. The company's output is supplied to a number of German-based car manufacturers, including BMW, Daimler and Volkswagen.
Both Aunde and Fehrer are involved in the BMW i3 electric car. Aunde produces the recycled PET fabric for the seats and Fehrer makes the rear seat shells from polyurethane reinforced with recycled carbon fiber.
Over the past several years, Fehrer has been struggling to stay financially afloat, and launched a restructuring process, reported local broadcaster Bayerischer Rundfunk. Owing to this, in 2013, the manufacturer said it posted sales of more than 433 million euros, up 2 percent from the previous year.
Fehrer currently has a global workforce of about 4,000, and operates production facilities located in Germany, Hungary, the Czech Republic, China and the United States. However, following the finalization of the company's take over, lay-offs are reportedly expected at the firm's plants.
Fehrer's U.S. plants are in Duncan, S.C., and Gadsden, Ala.
Mönchengladbach, Germany-based Aunde says it operates some 80 production facilities located in 25 countries.