MAHLE sells its thermostat business to Admetos
With its future growth strategy focusing on electrification and systems for thermal management as well as components for highly efficient, green combustion engines, MAHLE divests its thermostat business to industrial and investment holding company ADMETOS.
Automotive supplier MAHLE plans to sell its thermostat business to the industrial and investment holding company ADMETOS. The two sides have signed a contract to this effect at the beginning of August. ADMETOS intends to take over development and production with around 600 employees in six countries.
With its new strategy, MAHLE 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. Thermostats are components that control the cooling water temperature of internal combustion engines.
“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.
ADMETOS is an owner-managed industrial and investment holding company with experience in the automotive sector. “We plan to expand the thermostat business. We see further potential in industrial applications and growth opportunities through portfolio expansions also outside the mobility sector,” said ADMETOS managing directors Kai Dorn and Florian Prettl.
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.
The sales of thermostats in the spare parts and accessories trade under the MAHLE and Behr brands will continue to be handled by the worldwide MAHLE Aftermarket network.
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