Affinia Group to Merge with Mann+Hummel
Terms were not disclosed, but the transaction will add approximately $1 billion to Mann+Hummel’s annual sales and provide access to the heavy-duty truck segment for filter products.
“This acquisition fits perfectly with our corporate strategy,” said Alfred Weber, president andCEO of Mann+Hummel in Ludwigsburg, Germany. “It will enable us to grow globally and provide ample opportunity for growth and development for all of our people.”
Affinia Group CEO Keith Wilson said the deal will provide access to new technologies and capabilities as well as enhance the company’s finances.
Affinia Group, based in Gastonia, North Carolina, earlier this year agreed to divest its operations in Brazil. It plans to use those proceeds to pay down debt.