LEVERKUSEN AND LIPPSTADT, Germany, Sept. 4, 2012 /CNW/ - TMD Friction and HELLA have today announced their intention to establish
a new joint venture. Under the brand name HELLA Pagid the partners
intend to distribute brake components for the worldwide automotive
aftermarket. The jointly-owned enterprise, in which each partner will
have a 50-percent share, is to be established as an independent sales
company with its headquarters in Essen, Germany. Subject to the
required approval by the relevant competition authorities, the joint
venture will start operations on January 1st, 2013.
The goal of TMD Friction and HELLA is to build up a leading global
position in the supply of brake components for all on-road vehicles.
The joint venture will benefit from the respective areas of expertise
of the two partners. TMD Friction is a leading global manufacturer of
brake pads, which along with other components have been marketed under
the premium-quality brand Pagid. In future these products will, with
the exception of the British market, be distributed exclusively through
the global HELLA trading organisation. This cooperation will enable the
Aftermarket specialist to extend its product range with original
equipment quality brake components under a strong brand and open up a
further high value segment in the replacement parts aftermarket.
"For both companies the new HELLA Pagid joint venture is an outstanding
opportunity to expand their global market position," confirms Carsten
Albrecht, Member of the HELLA Management Board, Business Division
Aftermarket & Special OE. "Pagid brake friction is produced by TMD
Friction, a group known for its excellent quality and cutting-edge
technology. This brand with a range of products completing the full
braking system is a natural fit within the HELLA product portfolio,
perfectly meeting the high standards of our customers and our own
Since 2006 TMD Friction and HELLA have been cooperating in the wholesale
business in Scandinavia and the Baltics. In 2010 the two companies have
begun to intensify their cooperation, mutually reinforcing their
respective positions on the Chinese aftermarket.
"As long-standing partners we have already achieved a great deal and
have excellent experiences together. This joint venture is the next
logical step in our cooperation," states Josef Besting, Senior Vice
President Aftermarket at TMD Friction. "With HELLA Pagid we will in
future be able to deliver our customers worldwide the best possible
combination of range, top quality and service."
TMD Friction and HELLA will provide more information about the
cooperation once the joint venture has been approved by the competition
SOURCE: TMD Friction
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