WALTERSHAUSEN, Germany—ContiTech A.G. plans to purchase Waltershausen-based hydraulic hose manufacturer Knapheide GmbH Hydraulic Hoses, part of the Knapheide Group.
“We are taking over the production facilities, the property as well as 90 colleagues from Knapheide GmbH Hydraulic Hoses,” a ContiTech spokeswoman confirmed on June 24.
The acquisition is subject to approval by German antitrust authorities. The purchase price was not disclosed.
ContiTech already has two facilities and 1,100 employees in a nearby town of Gotha, Germany.
Knapheide Hydraulic Hoses' website says its annual production of KHHoses, Germany-branded hoses is about 50 million feet.
According to ContiTech, rubber and plastic products have been manufactured in Waltershausen for the past 150 years and the town in currently a supplier of rubber compounds for tires and technical rubber products and hoses for cars.