Here’s your weekly recap—the most viewed news stories on our site for the week ended January 14, 2023. On Jan. 6, Autoneum signed an agreement to acquire the automotive business of Borgers . The transaction is expected to close in April 2023 following antitrust clearance. Borgers specializes in textile acoustics protection, insulation and trim for automobiles. The product and customer range of Borgers is to a great extent complementary to the product and customer portfolio of Autoneum. Borgers’ wheel arch liner and trunk liner product lines as well as their truck business optimally complement the product range of Autoneum. Borgers’ product range is distinguished by sustainable and fully recyclable products. In fiscal year 2021, the Borgers Automotive Group generated revenue of €610 million with around 4700 employees. Thanks to Autoneum’s global presence, the Borgers product portfolio adds to the sales potential for profitable growth in the medium term outside Europe. In other news, Suominen will start consultation with local trade unions regarding a plan to permanently close manufacturing at its Mozzate plant. According to the plan, the production would end during the second quarter of 2023. The consultation will be conducted in accordance with the Italian legislation and applicable […]
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