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Freudenberg strengthens floor mat business

08 Feb '18

1 min read

Freudenberg, the global technology company, is expanding its car floor mat business. In Germany, the Japan Vilene Company, a Freudenberg Business Group, has signed an agreement to acquire Hanns Glass Group. The transaction is conditional upon approval from the German Federal Cartel Office and is expected to be completed in the second quarter of this year.

Hanns Glass is a leading global automotive supplier of car floor mats with a strong European presence and a portfolio complementary to VIAM, one of Japan Vilene Company's core businesses with operations in Asia and North America. In 2016, the company generated about 31 million euros in sales and has some 260 employees.

"With the acquisition of the Hanns Glass Group, the VIAM Group will gain access to the European automotive market and, in the future, will be able to supply European carmakers from local production sites," said Freudenberg Group CEO, Dr Mohsen Sohi.

The Hanns Glass Group is headquartered in Grafing, near Munich, and has production sites in Paderborn and Meuselwitz, Germany, and Cheb, Czech Republic. These sites will serve as the VIAM Group's European base. (RR)

Fibre2Fashion News Desk – India