MANN+HUMMEL announced the expansion of its air filtration business with plans to acquire a majority stake in Suzhou U-Air Environmental Technology (“U-Air”).
The transaction is expected to close during 2023, according to MANN+HUMMEL, subject to the satisfaction of customary regulatory approvals and other conditions.
The Chinese filtration manufacturer, which is part of Zisun Technology Co., Ltd, provides high-quality air filtration products, according to MANN+HUMMEL. The acquisition further strengthens MANN+HUMMEL’s presence in China and Southeast Asia, and will also serve customers globally, the company adds.
MANN+HUMMEL says it sees the rising demand for solutions for cleaner air, and will continue to improve the availability of its air filtration products to meet the increasing application and customer needs.
“Just like the automotive market that we successfully serve for decades, the air filtration industry is on the rise in China. Our customers expect even faster deliveries and the highest product standards. We look forward to tapping into new industries and to moving forward with U-Air,” said Kurk Wilks, president and CEO of the MANN+HUMMEL Group.
“U-Air is very well positioned in the attractive and fast-growing filtration market. Together, both companies will be able to expand their production capacities and to serve customers even faster with products at the highest level,” said Hat Guo, chairman of the board of Zisun group.
“We see U-Air’s local production capacities and experience in high-tech industries as a great addition to our brand and product portfolio. The new business is planned to complement MANN+HUMMEL’s existing air filtration business within the Life Sciences & Environment unit,” said Fua Nipah, president & general manager Air Filtration Solutions.
