Avon Automotive sells AVS business to Korean buyer

ERJ staff report (DS)

Cadillac, Michigan -- Korean company, Dong Ah Tire & Rubber Corp. has bought the vibration management unit of Avon Automotive. Financial terms of the acquisition were not released. Dong Ah already operates an anti-vibration systems (AVS) unit employing more than 300 in South Korea and China.

Avon Automotive's VMS business has a single factory in Chippenham, England,  which employs 236 in a 9000-m²Â plant. The company designs, manufactures and supplies engine and suspension mounts, mass dampers, tank track pads and other vibration management products to leading global automotive and defense customers in Europe and North America. Revenues for 2008 totaled approximately euro 44 million.

“This sale streamlines our business model, while allowing Avon Automotive to focus entirely on our core global hose business, which continues to experience growth, even in this very tough market,” said Lee Richards, president and CEO of Avon Automotive. “VMS is a well-respected and highly-technical business led by a talented group of employees. It now becomes part of an organisation with significant business in both Asia and North America that is committed to global growth.”

Dongah Tire & Rubber Corporation is headquartered in Yusan, South Korea. The company has more than 3000 employees and annual sales of more than $500 million

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Press release from Avon Automotive