HANOVER, Germany—Benecke-Kaliko A.G. plans to acquire the Hornschurch Group to expand its industrial business.
Part of Continental Corp.'s ContiTech A.G. division, Benecke-Kaliko said it's looking to open up new sales markets, particularly in North America, with the purchase.
“This acquisition is a strategically important and logical step for our company,” said Hans-Juergen Duensing, a member of the Continental executive board and CEO of ContiTech. “Hornschuch generates more than half of its sales with industrial applications.
“We are thereby consistently and sustainably strengthening our global business outside the automobile industry.”
Financial details were not disclosed. Completion of the purchase is subject to the approval of antitrust authorities.
The Hornschurch Group is a manufacturer of design, functional and compact films, foam laminates, and artificial leather for industrial applications—primarily for the furniture and construction industries—and for the automotive sector. It has four production sites in both Germany and U.S. and employs about 1,800.
It will be integrated into Benecke-Kaliko upon completion of the sale.
Benecke-Kaliko develops and manufactures surface materials for passenger and commercial vehicles, the off-highway sector and other industries from seven facilities in Germany, China, Mexico, Poland and Spain.