Freudenberg has agreed to sell its European and U.S. brake hose business, Flexitech, to Mitsubishi Corp. and Meiji Flow Systems.
Flexitech had sales in Europe and the U.S. of & euro; 80 million in 2006.
Mitsubishi and Meiji, who have brake hose activities in Asia, plan to continue expanding business in Europe and the U.S. Our objective is to become the market leader in brake hoses throughout the world, in addition to Europe,” said Katsuhiko Aoki, General Manager, Mitsubishi Corp.
Flexitech Europe SAS is in Saint-Andre-le-Puy, France. It designs, manufactures, and markets automotive hydraulic brake hoses to European OEMs and runs a hose manufacturing plant and an assembly plant. Flexitech RO SRL Romania, assembles hoses purchased from Flexitech Europe SAS.
Flexitech, Inc. is in Bloomington, IL. It designs, manufactures, and markets automotive hydraulic brake hoses to U.S. OEMs and runs an assembly plant.
Freudenberg is in 53 countries and records annual sales of & euro; 5 billion.