International. Car supplier Mahle plans to sell its thermostat business to industrial and investment holding company Admetos.
Both parties signed a contract to this effect in early August. Admetos intends to take over development and production with around 600 employees in six countries.
Admetos will be the new owner of Mahle's thermostat business.
With its new strategy, Mahle focuses on electrification and thermal management systems as well as cost leadership in environmentally friendly and highly efficient combustion engine components.
In this context, the group has decided to sell its thermostat product group, as this will not represent a strategic business segment for Mahle in the future. Thermostats are components that control the cooling water temperature of internal combustion engines.
"With Admetos we have a buyer who will focus his attention and energy on the thermostat business and take it decisively out of the Mahle Group into the future," said Jumana Al-Sibai, member of the Mahle Group Board of Management responsible for the thermal sector.
The product group has a broad customer base with long order delivery times.
Admetos is an owner-managed industrial and investment holding company with experience in the automotive sector.
"We plan to expand the thermostat business. We see greater potential in industrial applications and growth opportunities through portfolio expansions also outside the mobility sector," said Admetos CEOs Kai Dorn and Florian Prettl.
The sale includes the locations in Qingdao (China), Berga (Germany), Querétaro (Mexico) and the thermostat development area in Stuttgart (Germany). In Mühlacker (Germany), Busan (South Korea), Grugliasco (Italy) and Holysov (Czech Republic), only the thermostat production areas are affected, but not the other product groups located there.
Sales of thermostats in the Mahle and Behr brand spare parts and accessories will continue to be handled by the worldwide Mahle Aftermarket network.
