German technology company Continental has agreed to acquire anti-vibration systems business of Cooper Standard, based in Novi, Michigan. With this acquisition, Continental is expanding its global presence for anti-vibration and noise reduction technology, particularly in North America. The agreement includes a binding offer from Continental to purchase substantially all of Cooper Standard’s anti-vibration business in France and its respective interest in the joint venture in India. On this basis, the parties view to signing an agreement in the next few weeks, once works council consultations have taken place. Completion of the acquisition is subject to the approval of the respective antitrust authorities and of the signature of the aforesaid agreement for the French business. With the acquisition, Continental is expanding its vibration control activities, while at the same time ensuring the perfect complement to its automotive customer portfolio.
“This acquisition is enhancing our vibration control business and our ability to serve the automotive industry on a global basis. Weight reduction will drive future mobility, because less weight results in less fuel consumption and in fewer CO2 emissions. This increases the vehicle’s efficiency and helps to extend the range of electric and hybrid vehicles,” said Hans-Jürgen Duensing, Member, Continental Executive Board and responsible for the ContiTech division. Additionally, less noise and less vibration increase driving comfort, which, in turn, enhances the driving comfort and the driver’s safety.