WEINHEIM, Germany (Jan. 19, 2010)—Vibracoustic GmbH & Co. K.G. is buying out its partner in Vibracoustic do Brasil, a maker of automotive vibration technology products.
Vibracoustic, one of the Freudenberg & Co. K.G. business units, said it will acquire the 50-percent interest in the Brazilian manufacturer that is owned by Anvis Group. Based in Taubate, Brazil, Vibracoustic do Brasil primarily makes engine mounts and chassis parts for the local market, and employs 155.
The purchase—for an undisclosed amount—will allow the company to better serve the local market, Vibracoustic said. The manufacturer is aiming for 5-10 percent growth this year in Brazil.
The Anvis Group, formerly called Woco Michelin AVS, was founded in 2000 as a joint venture of the Woco Group and Michelin. The joint venture was taken over in 2007 by Arques Industries A.G., based in Munich, Germany.