KOMAKI CITY, Japan—Tokai Rubber Industries Ltd. has completed its purchase of Italian automotive hose manufacturer Dynamic Fluid Technologies S.p.A.
The acquisition of Turin, Italy-based Dytech will further Tokai's expansion into Europe, the Japanese company said. The company hasn't release financial details of the purchase.
Dytech Dynamic operates in nine countries, employs 3,500 and had 2011 sales of $408.2 million, the Japanese company said. Dytech's primary customers are European auto manufacturers, and it has operations in Italy, Brazil, Turkey, Tunisia, China, Russia, Argentina, Serbia and Mexico.
Previously, Tokai said acquiring Dytech will give it local production in regions where it is absent, providing new customers and allowing the firm to take another step toward global production. Tokai has automotive hose production in Japan and throughout the world, mostly North America and Asia.