Germany based Knorr-Bremse has signed a deal with Bosch to acquire its on-highway CVS transmission components business in Japan.
Following the acquisition, Knorr-Bremse will develop and manufacture gear shift units and clutch actuators as well as transmission control units for trucks and buses in Asia.
The deal will strengthen Knorr-Bremse's vehicle powertrain business for transmission control solutions in Asia.
Knorr-Bremse Executive Board member Dr. Peter Laier said: "For Knorr-Bremse, this acquisition represents an important step in expanding our presence in the fast growing Asian market for automated manual transmissions (AMT) as well as dual clutch transmissions (DCT) and will enable us to meet the needs of our customers in this region even more comprehensively.
"The CVS transmission product range makes the perfect complement for the portfolio of Knorr-Bremse as a major player in this segment."
Both the companies have not disclosed the value of the deal which is awaiting approval by the anti-trust authorities.
The acquisition is expected to improve Knorr-Bremse's competitiveness in the AMT and DCT transmission sector.
Laier continued: "As a result, we will be able to leverage synergies fast and join forces to achieve the sharp increase of the AMT market share that we are targeting in the region and in China in particular.
"With this in mind, we are planning an even closer engineering collaboration between our subsidiaries in Japan and China as well as with the European R&D team.
"Going forward we are putting our trust in our new colleagues' in-depth knowledge of their customers and markets, as well as in their long-standing technical expertise."
