Japanese firm Tokai Rubber Industries is acquiring the entire share capital of Italy-based automotive hose firm Dytech – Dynamic Fluid Technologies. The closing of the transaction is conditional upon clearance regarding merger control filing and other several conditions precedents under the share purchase agreement.
TRI is one of the leading and the largest global manufacturers of automotive hoses. Founded in 1929, TRI has developed a network of manufacturing sites of automotive hoses in Japan as well as in 7 countries outside Japan, mostly in North America and Asia. At the same time, TRI has felt the need to expand into Europe, an important market for Japanese OEMs, and into South America whose market is on a rising trend. By joining together with Dytech’s global footprint that encompasses 9 countries, local productions in these areas will become possible for TRI, and new customer base will be obtained, thus allowing TRI to make another step toward the global production system.
Under its “2015 TRI Group Vision” midterm management plan, as part of its growth strategy in the automotive products section, TRI is committed, along with expanded sales to the Japanese automobile manufacturers, to furthering business with non-Japanese OEMs. Making available Dytech’s modular design and development capabilities and the sales network in Europe and South America, and expanding the product range, TRI expects to further strengthen its complementary network on the global basis so we may provide the quality products expeditiously to our customers worldwide.
(RJA)