LONG GROVE, Ill. (Aug 13, 2014) — MAT Holdings Inc., maker of Gabriel shock absorbers and Grie brakes, is acquiring from Honeywell International Inc. the exclusive license for the Bendix trademark for automotive braking products sold in the U.S.
“MAT Holdings is thrilled to have the opportunity to write the next chapter in the long history of the Bendix brand in the U.S.,” said George Ruhl, president and CEO of MAT Holdings. “We look forward to building long lasting relationships with our existing and new customers in the automotive aftermarket sector by leveraging the strength of our existing portfolio of automotive parts and the Bendix trademark.”
The acquisition is expected to be finalized within the next five months, according to a spokesperson.
In July Federal-Mogul Holdings Corp. acquired Honeywell’s Friction Materials business assets in Europe, China and Brazil. At the time, Honeywell said the friction business did not fit with the company’s core differentiated technologies focus and long-term growth plans.
Long Grove-based MAT manufactures the Grie, Meneta, and Roulunds brake brands, among others, as well as the Tiger auto accessories. The company also distributes products in the fencing and hardware and power equipment sectors.
How have local road conditions and/or road construction impacted tire repairs/automotive services at your dealership?
|We've seen an increase in business.||
40% (17 votes)
|Things are holding steady.||
50% (21 votes)
|Business is trending down.||
10% (4 votes)
|Total votes: 42|