- Email: [email protected]
Cooper-Standard Automotive makes acquisition and new appointments
COMPANY NEWS
Company News Trelleborg purchases US seal and bearing company
T
relleborg Group, through the Trelleborg Sealing Solutions business area, has acquired the operations of precision bearing and sealing devices company Hydro-Components Research & Development Corporation (HCRD). HCRD manufactures high-precision components, focusing specifically on large diameter seals and bearings. These products are used primarily in applications involving heavy-duty cylinders such as shock absorbers for earth moving equipment, dumpers and diggers. “HCRD’s technology and products are at the leading edge of development in the company’s area of focus and will make an extremely valuable contribution to us,” says Claus Barsøe, Business Area President for Trelleborg Sealing Solutions. “The products fit in ideally with our current portfolio, will expand our offering and enable us to grow more rapidly in North America, within the segment for heavy duty vehicles. The acquisition also offers distinct process and organizational synergies.” The company employs a total of approximately 80 people and has annual sales of about SEK 50 million, over US$7 million. It is a privately owned company based in Streamwood, Illinois, USA. Contact: Hydro-Components Research & Development, 901 Phoenix Lake Ave, Streamwood, IL 60107, USA, Tel: +1 630 289 1500, Fax: +1 630 289 5434, Email:[email protected], Web: www.hcrd.com.
Techno Park to host new gasket facility
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echno Park, the science and technology facilitator of Economic Zones World, in Kuwait, will be home to one of the most modern industrial gasket manufacturing plants in the Middle East. The US$10-Million Al Fares Petro Services is expected to be the first in the Arab world to be equipped with laser technology, and will produce a comprehensive range of metallic and 6
Sealing Technology
non-metallic gaskets under the management and technical supervision of Garlock Sealing Technologies. Al Fares Petro Services will provide seals and sealing systems throughout the Middle East, particularly in the oil and gas industry. Al Fares Group of Companies is well-known in Kuwait for successfully managing jewelleries, construction firms and fashion outlets, in addition to its strong presence in the oil and gas industry. The office covers a service territory larger than the United States and includes Egypt, Iraq, Kazakhstan, Kuwait, Oman, Pakistan, Saudi Arabia, Yemen and the UAE. Contact: Garlock Sealing Technologies, 1666 Division Street, Palmyra, NY 14522, USA. Tel: +1 315 597 3104, Fax: +1 315 597 3039, Email: Robert.ewanow@garlock. com, Web: www.garlock.com
Freudenberg Group continues to increase sales
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he Freudenberg Group sales exceeded five billion euros for first time in the 158 year history of the company. Adjusted to allow for exchange rate influences as well as acquisition and disinvestment effects, the rise in sales is approximately 6%. The result of operational activities rose by approximately 9% compared with the same period of the preceding year. At the end of 2006 Freudenberg employed 33,526 people, 141 more than the previous year. The group invested a total of more than 200 million in research and development in 2006. 2,256 workers were employed in this division. Contact: Freudenberg Simrit GmbH & Co KG, D-69465 Weinheim, Germany. Tel: +49 1805 746748, Fax: +49 1803 746748, Email: [email protected], Web: www.simrit.de.
Cooper-Standard Automotive makes acquisition and new appointments
C
ooper-Standard Automotive Inc has initiated acquisition of Metzeler
Automotive Profile Systems and has also made two senior appointments within the company. A Memorandum of Understanding has been agreed with Automotive Sealing Systems S.A. providing for the acquisition of Metzeler Automotive Profile Systems (MAPS) sealing systems operations in Germany, Italy, Poland and Belgium, including joint venture interests in India and China. The transaction, which is subject to the execution of a definitive purchase agreement and other conditions including regulatory approvals, is expected to close in the third quarter of 2007. Cooper-Standard’s principal shareholders, Goldman Sachs Capital Partners and The Cypress Group will invest new equity in Cooper-Standard as part of the financing of the acquisition. The MAPS operations to be acquired include eight manufacturing facilities in Europe and participations in joint ventures in India and China. The consolidated annual sales of these businesses were approximately $400 million in 2006. Fiat, BMW, Daimler and Volkswagen Group are among the largest customers of the businesses being acquired. The company has appointed Keith D. Stephenson as President, Global Body & Chassis Systems. Stephenson will be located at the Cooper-Standard world headquarters office in Novi, MI and will report directly to Ed Hasler, President and Chief Operating Officer. Before joining Cooper-Standard Automotive, Stephenson held a number of progressively responsible positions at the Boler Company and its operating unit, Hendrickson. This included Chief Development Officer, President of International Operations, Senior Vice-President of Global Operations and head of the Truck Systems Group. In addition Lee Turner has been appointed vice president global sales, marketing, and engineering for the Fluid Systems Division. In his new role, Turner will be directly responsible for the sales, marketing, and engineering teams globally. He will be located in the division’s Auburn Hills, Mich.USA, headquarters and report to Mike Verwilst, president Fluid Systems Division. Most recently, Turner held the position of vice president – Asian Business Development and was responsible for providing leadership and focus to activities in Asia on behalf of Cooper-Standard Automotive Inc. Contact: Cooper-Standard Automotive Inc, PO Box 8034, Novi, MI 48376, USA. Tel: +1 248 596 5900, Fax: +1 248 596 6515, Email: [email protected], Web: www.cooperstandard.com.
August 2007
Company News Trelleborg purchases US seal and bearing company
T
relleborg Group, through the Trelleborg Sealing Solutions business area, has acquired the operations of precision bearing and sealing devices company Hydro-Components Research & Development Corporation (HCRD). HCRD manufactures high-precision components, focusing specifically on large diameter seals and bearings. These products are used primarily in applications involving heavy-duty cylinders such as shock absorbers for earth moving equipment, dumpers and diggers. “HCRD’s technology and products are at the leading edge of development in the company’s area of focus and will make an extremely valuable contribution to us,” says Claus Barsøe, Business Area President for Trelleborg Sealing Solutions. “The products fit in ideally with our current portfolio, will expand our offering and enable us to grow more rapidly in North America, within the segment for heavy duty vehicles. The acquisition also offers distinct process and organizational synergies.” The company employs a total of approximately 80 people and has annual sales of about SEK 50 million, over US$7 million. It is a privately owned company based in Streamwood, Illinois, USA. Contact: Hydro-Components Research & Development, 901 Phoenix Lake Ave, Streamwood, IL 60107, USA, Tel: +1 630 289 1500, Fax: +1 630 289 5434, Email:[email protected], Web: www.hcrd.com.
Techno Park to host new gasket facility
T
echno Park, the science and technology facilitator of Economic Zones World, in Kuwait, will be home to one of the most modern industrial gasket manufacturing plants in the Middle East. The US$10-Million Al Fares Petro Services is expected to be the first in the Arab world to be equipped with laser technology, and will produce a comprehensive range of metallic and 6
Sealing Technology
non-metallic gaskets under the management and technical supervision of Garlock Sealing Technologies. Al Fares Petro Services will provide seals and sealing systems throughout the Middle East, particularly in the oil and gas industry. Al Fares Group of Companies is well-known in Kuwait for successfully managing jewelleries, construction firms and fashion outlets, in addition to its strong presence in the oil and gas industry. The office covers a service territory larger than the United States and includes Egypt, Iraq, Kazakhstan, Kuwait, Oman, Pakistan, Saudi Arabia, Yemen and the UAE. Contact: Garlock Sealing Technologies, 1666 Division Street, Palmyra, NY 14522, USA. Tel: +1 315 597 3104, Fax: +1 315 597 3039, Email: Robert.ewanow@garlock. com, Web: www.garlock.com
Freudenberg Group continues to increase sales
T
he Freudenberg Group sales exceeded five billion euros for first time in the 158 year history of the company. Adjusted to allow for exchange rate influences as well as acquisition and disinvestment effects, the rise in sales is approximately 6%. The result of operational activities rose by approximately 9% compared with the same period of the preceding year. At the end of 2006 Freudenberg employed 33,526 people, 141 more than the previous year. The group invested a total of more than 200 million in research and development in 2006. 2,256 workers were employed in this division. Contact: Freudenberg Simrit GmbH & Co KG, D-69465 Weinheim, Germany. Tel: +49 1805 746748, Fax: +49 1803 746748, Email: [email protected], Web: www.simrit.de.
Cooper-Standard Automotive makes acquisition and new appointments
C
ooper-Standard Automotive Inc has initiated acquisition of Metzeler
Automotive Profile Systems and has also made two senior appointments within the company. A Memorandum of Understanding has been agreed with Automotive Sealing Systems S.A. providing for the acquisition of Metzeler Automotive Profile Systems (MAPS) sealing systems operations in Germany, Italy, Poland and Belgium, including joint venture interests in India and China. The transaction, which is subject to the execution of a definitive purchase agreement and other conditions including regulatory approvals, is expected to close in the third quarter of 2007. Cooper-Standard’s principal shareholders, Goldman Sachs Capital Partners and The Cypress Group will invest new equity in Cooper-Standard as part of the financing of the acquisition. The MAPS operations to be acquired include eight manufacturing facilities in Europe and participations in joint ventures in India and China. The consolidated annual sales of these businesses were approximately $400 million in 2006. Fiat, BMW, Daimler and Volkswagen Group are among the largest customers of the businesses being acquired. The company has appointed Keith D. Stephenson as President, Global Body & Chassis Systems. Stephenson will be located at the Cooper-Standard world headquarters office in Novi, MI and will report directly to Ed Hasler, President and Chief Operating Officer. Before joining Cooper-Standard Automotive, Stephenson held a number of progressively responsible positions at the Boler Company and its operating unit, Hendrickson. This included Chief Development Officer, President of International Operations, Senior Vice-President of Global Operations and head of the Truck Systems Group. In addition Lee Turner has been appointed vice president global sales, marketing, and engineering for the Fluid Systems Division. In his new role, Turner will be directly responsible for the sales, marketing, and engineering teams globally. He will be located in the division’s Auburn Hills, Mich.USA, headquarters and report to Mike Verwilst, president Fluid Systems Division. Most recently, Turner held the position of vice president – Asian Business Development and was responsible for providing leadership and focus to activities in Asia on behalf of Cooper-Standard Automotive Inc. Contact: Cooper-Standard Automotive Inc, PO Box 8034, Novi, MI 48376, USA. Tel: +1 248 596 5900, Fax: +1 248 596 6515, Email: [email protected], Web: www.cooperstandard.com.
August 2007