Benecke-Kaliko, an expert in automotive interior materials, belongs to Continental and currently plans to continue to expand its industrial business and open up new markets, especially in North America. To achieve this, the company signed an agreement to formally acquire Hornschuch, a German supplier of surface technology.
This acquisition transaction also needs to be approved by the anti-monopoly department, and rely on Continental's liquidity and available credit line to complete.
"For our company, this acquisition is a strategic step on the company's development path. More than half of Hong Shuhe's sales come from industrial applications, and we can continue to strengthen our global presence outside the automotive industry. Business, "said Hans-Jürgen Duensing, member of Continental's executive board and president of Contitech's business unit.
"This is the largest acquisition in Benecke-Kaliko's development history. The combination of two international companies with deep historical heritage will surely better meet the individual needs of customers worldwide." Bei Dr. Dirk Leiß, Chairman of the Board of Directors of Neck-Kaliko AG. "Hong Shuhe's well-established sales network around the world can help Benecke-Kaliko to further develop markets that are not yet mature."
Dr. Hans-Hinrich Kruse, President of the Hongshuhe Group, also held the same statement: "With the joint efforts of our employees and financial investment, the Group has shown a good momentum of development in the past few years. The Ricoh merger provides an excellent opportunity for the Group to further develop in the world's already opened markets. We firmly believe that both companies will benefit from this strategic step that they have taken now. "
With this acquisition, Hong Shuhe will be integrated into Benecke-Kaliko. Benecke-Kaliko AG is part of Continental's ContiTech Division, and develops and produces seven vehicles in Germany, China, Mexico, Poland, and Spain. The skin material has 16 international sales offices in North and South America, Asia and Europe. The company had sales of approximately € 550 million in 2015.