Automotive cable specialist Delfingen plans to accumulate the European and African operations of Schlemmer, a German industrial group that makes a speciality of cable safety and injection-molded elements for the automotive business. Schlemmer entered preliminary chapter proceedings final December. The corporate’s Asian division was bought to its Chinese language accomplice, the Fengmai-Ningbo Huaxiang Group.
The division Delfingen is buying represents a turnover of round €100 million, 1,000 folks and 5 factories in Germany, Romania, Russia, Morocco and Tunisia. The 2 latter vegetation are joint ventures.
The acquisition allows Delfingen to to consolidate its market share in Europe, to strengthen its proximity to German automotive producers and gear suppliers, and to pool R&D efforts supporting the transition to EVs.
Delfingen CEO Gérald Streit stated, “A disaster generally is a supply of alternative. The present troublesome context has made it attainable to convey collectively two historic gamers within the safety of automotive wiring on the international degree.”