Knorr-Bremse, the global market leader for braking systems and a leading supplier of other rail and commercial vehicle subsystems, today signed an agreement to acquire the commercial vehicle steering business (IPS) from Hitachi Automotive Systems in Japan and Thailand. The division is the leading supplier of power steering parts for commercial vehicles in Japan.
"Knorr-Bremse has global experience with commercial vehicles in the fields of vehicle dynamics, driver assistance systems and the main related actuators, which means brakes and steering. The takeover of the commercial vehicle steering business from Hitachi will expand Knorr-Bremse’s steering system portfolio and further enhance Knorr-Bremse’s future potential as a global supplier for driver assistance and highly automated driving solutions," said Dr. Peter Laier, Member of the Executive Board of Knorr-Bremse AG responsible for the Commercial Vehicle Systems division.
"With the expertise of Hitachi Automotive Systems on recirculating ball steering (RCB) gears and the torque overlay steering (TOS), Knorr-Bremse will strengthen the cooperation with Japanese commercial vehicle manufactuers through providing further support for their future highly automated driving vehicles. We also see good potential to use the acquired technology to support Chinese customers," added BaoPing Xu, Member of the Board of Directors of Knorr-Bremse Asia-Pacific (Holding) in charge of the Commercial Vehicle Systems business.
With this transaction, Knorr-Bremse expects to become the leading supplier of recirculating ball steering (RCB) gears for commercial vehicles in Japan and executes the next step to become a global supplier for commercial vehicle steering systems. This will create a solid global basis for subsequent introduction of torque overlay systems (TOS) for automated driving functions. In addition, Knorr-Bremse will gain a better access to the Japanese and the Southeast Asian market and will have the opportunity to also provide further products of the business segment for commercial vehicles in these regions.
Hitachi Automotive Systems´ commercial vehicle steering business is one of the world leading developers and suppliers of competitive, high-performance steering technology and manufactures hydraulic power steering for commercial vehicles ranging from pickup to heavy trucks to heavy-duty trucks. In 2017, the IPS business generated a turnover close to 100 million euros and has strong business relationships to Japanese OEMs. The sites in Japan and Thailand have a workforce of around 350 employees.
Knorr-Bremse is the global market leader for braking systems and a leading supplier of other safety-critical rail and commercial vehicle subsystems. In 2017, Knorr-Bremse’s two divisions together generated revenues of 6.2 billion euros (IFRS).