Knorr-Bremse is prepared to take over the United Kingdom-based GT Group to reinforce its position in the engine air management sector. The acquisition is subject to approval by anti-trust authorities.
Knorr-Bremse is known as a leading manufacturer of braking systems for rail and commercial vehicles worldwide. The purchase of GT Group, which has developed and manufactured EGR valves and exhaust brakes for diesel engines for 35 years, will strengthen the company’s market position in North American and Europe.
Peter Laier, who is responsible for the Knorr-Bremse commercial vehicle systems division and a member of the executive board, sees the move to obtain GT Group as a step towards the company’s aim of offering integrated system solutions and subsystems.
“The strategic fit of GT Group to Knorr-Bremse and the strong position of our combined businesses will enable us to meet the needs of our worldwide customers regarding the emission-compliant operation of diesel engines even more comprehensively,” he said.
The addition of GT Group into the company’s portfolio, Laier claimed, should boost customer benefits, reduce costs and ensure both the safe and efficient operation of trucks, trailers and buses over the entire life cycle of these vehicles.
GT Group Chairman Geoff Turnbull believes the support Knorr-Bremse provides should maintain the company’s trajectory of growth through the maximization of new opportunities across international markets.
“Knorr-Bremse is at the pinnacle of engineering around the world and the perfect custodian for GT Group and the extensive expertise and technologies we have developed,” Turnbull said. “With the expertise of our workforce and the support of its new owners, I am confident I am leaving the business in very safe hands.”
Both companies have specified that they are under no obligation to disclose the purchasing price of the upcoming deal.
