Global automotive supplier Hanon Systems has completed the acquisition process of condenser business from Keihin Corporation for specific operations in Europe and North America. With this transaction the condenser operation in Kladno, Czech Republic, and San Luis Potosi, Mexico; and a portion of the condenser business in the US will come under Hanon’s fold. Alongside, about 500 employees will be transferred, said Hanon Systems.
Nurdal Kücükkaya, Representative Executive Officer & President, Hanon Systems, said, 'This strategic acquisition expands our ability to supply automakers with condenser technology and further diversifies the customer base of Hanon Systems. Condensers continue to be an important heat exchanger technology in automotive thermal management to support conventional and electrified vehicles.'
Min Sung, Representative Executive Officer & CEO, Hanon Systems, said, 'We are pleased to acquire this business from Keihin, and commit to integrating this business as quickly as possible to ensure a smooth transition for all stakeholders involved.'
Hanon Systems is a full-line supplier of automotive thermal and energy management solutions for electrified and conventional vehicles. Its offering includes a wide range of solutions in the areas of heating ventilation and air conditioning; powertrain cooling; compressor; fluid transport; and electronics and fluid pressure.
NB: Photo is representational.