Formation Of Chassis Brakes International Group
DRANCY, PARIS, France, June 1, 2012 /CNW/ - Chassis Brakes International Group, headquartered in Drancy, Paris France, announced today that the acquisition of the Robert Bosch global automotive foundation brakes business by Caliper Acquisition International, a newly-founded affiliate of KPS Capital Partners, has been completed. The foundation brakes business will operate under the name Chassis Brakes International Group.
Chassis Brakes International Group is one of the world's three largest manufacturers of automotive foundation brakes and foundation brake components. The transaction comprises the original equipment business with products such as brake calipers, disk brakes, drum brakes and parking brakes sold directly to Original Equipment Manufacturers and through various aftermarket channels.
The Group currently generates sales of more than 900 million euros and employs approximately 6,000 associates at its twenty one manufacturing facilities and engineering centers in Europe, Asia Pacific and South America.
Chassis Brakes International and Robert Bosch will continue a close strategic cooperation going forward focused primarily on brake boosters and brake control systems.
Martina Merz, Chief Executives Officer of Chassis Brakes International, said, "Our objective is to build and develop a leading supplier of foundation brakes and I believe that the Company's strong balance sheet and the support of KPS Capital Partners will enable it to achieve this objective. I'm very confident that by tailoring the business processes to foundation-related requirements and by continuing to leverage the skill, creativity and talent of our associates, the new Company will achieve its full potential."
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SOURCE Chassis Brakes International Group