HANOVER, Germany — Continental A.G. has received necessary approvals from all antitrust authorities to acquire the anti-vibration systems business of Cooper Standard Holdings Inc.
The $265 million acquisition, disclosed in November, is expected to be completed in the first half of the year, Continental said.
The deal includes five plants and R&D facilities. Cooper Standard's portfolio comprises strut mounts, spring seats, jounce bumpers, hydraulic bushings; body and cradle mounts; mass dampers; and dual durometer bushing.
The business generated about $327 million in sales in fiscal 2017 with about 1,000 employees. ContiTech's Vibration Controls unit employs more than 2,600 at 11 manufacturing and R&D locations in Brazil, China, France, Germany, Mexico and the U.S.
Hanover-based Continental said in November that the business would be integrated within the vibration control unit of its ContiTech division, which produces non-tire rubber parts for a variety of industries, including automotive.
With the acquisition, Continental will gain from Cooper Standard's expertise in material and product design, predictive component analysis, system integration and vehicle testing.
"The combined business will drive innovations in lightweight and other anti-vibration products," Kai Fruehauf, head of Continental's vibration control business, said.