Continental Affirms Interest in Siemens’ VDO Unit, Other Small Acquisitions

Continental AG board member Gerhard Lech said the automotive parts supplier is still interested in Siemens AG's VDO car parts unit and is also assessing other possible acquisitions. Siemens AG is planning to spin off its VDO unit on June 1 and is seeking offers within the next nine days, according to a report yesterday in Financial Times Deutschland.

Published: April 17, 2007

From AFX News Limited

HANOVER, Germany — Continental AG board member Gerhard Lech said the automotive parts supplier is still interested in Siemens AG’s VDO car parts unit and is also assessing other possible acquisitions.

"We are observing the markets and if something is up for sale which fits in well with us, then we’ll go for it – if the price is right," Lech said.

Siemens AG is planning to spin off its VDO unit on June 1 and is seeking offers within the next nine days, according to a report yesterday in Financial Times Deutschland.

Lech declined to comment on the state of possible talks with Siemens.

Transtar Announces Agreement for Axalta to Acquire The CoverFlexx Group

Axalta Coating Systems has signed a definitive agreement to acquire Transtar Holding Company’s subsidiary The CoverFlexx Group.

By Mary DellaValle

Published: May 13, 2024

Transtar Holding Company announced that global coatings company Axalta Coating Systems has signed a definitive agreement to acquire its subsidiary The CoverFlexx Group. The transaction is anticipated to close in the third quarter, pending regulatory approval and customary closing conditions, Transtar Holding Company said.

The strategic move allows Transtar Holding Company to focus exclusively on the growth of NexaMotion Group, a portfolio of technology-driven automotive aftermarket businesses that offer a complete suite of mechanical auto repair products and industry-leading e-commerce solutions, the company said.