Valeo will acquire automotive drive technology leader Germany FTE Group

Recently, Valeo signed an agreement with Bain Capital Private Equity to acquire 100% of the German FTE Group (Fujian) for EUR 819 million. This investment exceeds the 8 times of the German FTE Group's 2016 EBITDA.

Headquartered in Germany, Germany's FTE Group is the world's leading manufacturer of truck clutch and gear transmissions. It is highly complementary to Valeo in terms of product line and customer layout. In addition, the addition of German FTE will also strengthen Valeo's business in the automotive aftermarket. It is expected that performance will increase in the first year of completion of the acquisition.

In 2015, Germany’s FTE Group’s sales were approximately EUR 500 million: One-third of it came from post-market operations; 30% of its sales came from outside the European automotive market. With 3,700 employees worldwide, FTE Germany has a diverse company footprint in eight countries including Germany, the Czech Republic, Slovakia, Mexico and China.

It is reported that the acquisition has been approved by European and Brazilian antitrust agencies and is expected to be completed in the fourth quarter of 2016 or the first quarter of 2017.

Jacques Asshenba, chairman and chief executive officer of Valeo Group, stated: “This acquisition perfectly fits the development strategy of the Group’s continuous investment in technological innovation and R&D for CO2 emission reduction. German FTE is a fast-growing one. The high-quality company is also a leading technology company that combines the successful development of 'development' with 'profitability'. This acquisition will further strengthen the strength of Valeo's powertrain system division. We sincerely welcome 3,700 German FTE employees to join the law. Leo family."

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ITEM	UNIT	SS100/100	SS100
Rated Load	kg	1000/1000	1000
Lifting speed	m/min	23.5	23.5
Standard height	m	24	24
Max lifting height	m	80-130	80-130
Cage size	m	2.8*1.5*1.9	2.8*1.5*1.9
Mast section size	m	0.65*0.65*1.5 or 0.8*0.8*1.5	0.65*0.65*1.5 or 0.8*0.8*1.5
Motors power	kw	7.5*2	7.5
Wirerope	/	6*37+1-12-1670-R	6*37+1-12-1670-R
Weight for 24m height	kg	4350	3340
Mast section main limb	mm	Φ76*4	Φ76*4

Application Area:

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