24 Jun 2015
Waltershausen, Germany – ContiTech AG is to take overWaltershausen-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 which is located in our neighbourhood,” a ContiTech spokeswoman confirmed to ERJ on 24 June.
ContiTech already has two facilities and 1,100 employees in a nearby town of Gotha, Thuringia, in central Germany.
The annual production of the hoses under the label "KHHoses - Germany" is approximately 15 million metres, according to the Knapheide Hydraulic Hoses website.
The acquisition is subject to approval by German antitrust authorities. The purchase price was not disclosed.
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.
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