Benecke-Kaliko set to absorb Hornschuch
- April 11, 2017
Merging: Dirk Leiß, Benecke-Kaliko chairman, with Konrad Hornschuch chairman Hans-Hinrich Kruse
Continental has bought Hornschuch Group and will now set about absorbing the surface specialist into its Benecke-Kaliko business unit. Benecke-Kaliko, which had sales of €550 million in 2015, develops and manufactures surface materials for passenger and commercial vehicles at seven locations in Germany, China, Mexico, Poland, and Spain.
The deal gives Continental the opportunity to “expand significantly” outside the automotive sphere.“Our primary objective is to strengthen our industrial business so that it can catch up with the growth rates of our automotive business,” says Dirk Leiß, Benecke-Kaliko chairman. He said the merger would create a boost in surface design and R&D, and offer a number of synergies, particularly in purchasing. Hornschuch generated revenues of €410 million in 2015 and has more than 1,800 employees working at four production sites in Germany and the US.