KASSEL, Germany—Hubner GmbH & Co. K.G. has reached an agreement to divest its automotive segment to automotive supplier Gotec Gorschluter GmbH.
Based in Wuelfrath, Germany, Gotec is a global specialist for coating with rubber to metal adhesion technology. Hubner said in a Dec. 2 news release that the deal will be complete on April 1. Its automotive segment includes production of auto body parts, car key shells, keypads and accelerator pedals.
Financial details were not disclosed, but Hubner said that annual revenues for its automotive segment were in the "single-digit million range." It added that Hubner personnel will provide training for Gotec's work force beginning in January and be available to Gotec in an advisory capacity through June 30.
According to the news release, the sale does not involve the termination of any Hubner employees. "All permanent employees have received an explicit option to remain at the company," Hubner General Manager Ingolf Cedra said in a statement.
Gotec intends to initially maintain the automotive segment's production in Kassel and will be leasing facilities at Hubner's plant in Bettenhausen, Germany, according to Hubner's news release. The lease agreement runs until mid-2021.
Hubner said the sale is part of an ongoing effort to restructure its Material Solutions business segment, which employs more than 1,000 globally at 13 locations. Hubner consists of three segments—Mobility, Material Solutions and Photonics—with 3,300 employees at more than 30 global locations.
"We will be concentrating on innovative, technologically sophisticated industries and markets providing high-quality technical solutions that make use of plastics, composite materials and elastomers such as rubber and silicones together with increasing use of sensor systems," Cedra said.
One of Hubner's main goals going forward is to focus on its leading market position in the area of door safety and sealing systems for public transport applications. Hubner supplies finger protection profile with integrated sensors to bus and railway manufacturers worldwide. Cedra added that the firm will also focus on the oil and gas, aviation, and health care industries.
Gotec said in a statement that the acquisition will complement its product range, making it a stronger partner for the automotive industry going forward.