LONGVIEW, Texas—The sale of ContiTech A.G.'s North American air springs business to EnPro Industries Inc. has closed.
Formerly part of Veyance Technologies Inc., which was purchased by Continental A.G. division ContiTech in January, the air springs business was put up for sale when U.S., Mexican and Brazilian antitrust authorities mandated the divestiture in order to close the Veyance transaction.
The air springs operation will become part of EnPro's Stemco division. Included in the deal are Veyance's Super Cushion and Spring Ride lines of truck, trailer and truck cab suspension products in addition to its cap seat springs.
Veyance's production plant in San Luis Potosi, Mexico, its research and development operation in Fairlawn, Ohio, and all NAFTA related patents and applications are also part of the transaction.
“The Goodyear air springs business carries with it a strong brand presence and premium product performance,” according to Stemco President Todd Anderson.
He said customers of Veyance “will be able to count on the same consistent product performance and brand attributes, as the products will continue to be manufactured in the same facility and engineered by the same design team with the same support functions, in addition to gaining the support of the entire Stemco staff.”
Anderson noted that the addition of the air springs operation fits well with the business strategy of Stemco, which has offices and manufacturing facilities in Texas, Georgia, Michigan, Kentucky, Tennessee, California, Canada and China.