HAMBURG, Germany—TrelleborgVibracoustic and HSS Otomotiv ve Lastik Sanayi A.S. said they have closed a deal to create a joint venture that will produce vehicle air springs for the automotive market.
The new firm, called Vibracoustic CV Air Springs GmbH, will employ about 600 at facilities in five countries and will be based in Hamburg.
TrelleborgVibracoustic holds a 50.1 percentage in the business, and the former owners of HSS Otomotiv have a 49.9 percent stake. HSS Otomotive served as a holding company for Blacktech, its operating unit, which is now part of the joint venture.
Thomas Engel, executive vice president of Darmstadt, Germany-headquartered TrelleborgVibracoustic's air springs business, and Sedat Akyol, managing director of HSS Otomotiv, will jointly manage the venture.
The merger of the companies' air springs businesses brings together TrelleborgVibracoustic's Aircruise brand and HSS Otomotiv's Blacktech operation. The Aircruise line is well positioned in the premium air spring segment while the Blacktech brand has a big share of the air springs aftermarket.