Automotive supplier MAHLE announced plans to sell its thermostat business to industrial and investment holding company ADMETOS, a contract for which was signed in early August.
Under the arrangement, ADMETOS intends to take over development and production with around 600 employees in six countries.
With its new strategy, MAHLE says it is focusing on electrification and systems for thermal management, as well as cost leadership in components for highly efficient, green combustion engines. In this context, the Group has decided to sell its thermostats product group, as this will not represent a strategic MAHLE business segment in the future, according to the company.
The sale involves the locations Qingdao (China), Berga (Germany), Querétaro (Mexico) and the development area for thermostats in Stuttgart (Germany). In Mühlacker (Germany), Busan (South Korea), Grugliasco (Italy) and Holýsov (Czech Republic), only the production areas for thermostats are affected—but not the other product groups located there.
“With ADMETOS, we have a buyer that will focus its attention and energy on the thermostat business and lead it purposefully outside the MAHLE Group into the future,” said Jumana Al-Sibai, member of the Management Board of the MAHLE Group responsible for thermal management. The product group has a broad customer portfolio with long running times for orders placed, the company says.
