fbpx

EV Engineering News

Automotive cable firm Delfingen expands its reach with acquisition

Automotive cable specialist Delfingen plans to acquire the European and African operations of Schlemmer, a German industrial group that specializes in cable protection and injection-molded parts for the automotive industry. Schlemmer entered preliminary bankruptcy proceedings last December. The company’s Asian division was sold to its Chinese partner, the Fengmai-Ningbo Huaxiang Group. 

The division Delfingen is acquiring represents a turnover of around €100 million, 1,000 people and 5 factories in Germany, Romania, Russia, Morocco and Tunisia. The two latter plants are joint ventures. 

The acquisition enables Delfingen to to consolidate its market share in Europe, to strengthen its proximity to German car manufacturers and equipment suppliers, and to pool R&D efforts supporting the transition to EVs. 

Delfingen CEO Gérald Streit said, “A crisis can be a source of opportunity. The current difficult context has made it possible to bring together two historical players in the protection of automotive wiring at the global level.”

Source: Delfingen

Comment
Comments
Create Account. Already Registered? Log In

Virtual Conference on EV Engineering: Free to Attend

The sessions from our Fall 2022 Virtual Conference are now available to view on-demand. Register for a session below to watch the recording and download the presentation.

LOAD MORE SESSIONS

EV Engineering Webinars & Whitepapers

EV Tech Explained