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.”