ContiTech Acquires Automotive Air Conditioning Business of Parker Hannifin

ContiTech is strengthening its business in hose lines for the automotive industry. Its Fluid Technology business unit takes over the automotive air conditioning business of the Collierville, Tennessee-based Mobile Climate Systems division of Parker Hannifin Corporation. This acquisition includes plants in Mexico (Monterrey and Montemorelos), the Czech Republic (Chomutov), South Korea (Chonan) and China (Wuxi). ContiTech will take on approximately 1,000 employees in total from this acquisition. It is one of the largest acquisitions in ContiTech’s history. The relevant agreements have been signed on August 13, 2012. The transaction is still subject to the approval of the antitrust authorities.

The acquired business manufactures refrigerant control and containment components for passenger car and light truck vehicle air conditioning applications.