Tokai to buy Anvis Group
Anvis Group CEO Olaf Hahn (left) and Tokai President Yoshiaki Nishimura.
FRANKFURT, Germany—Tokai Rubber Industries Ltd. is acquiring German automotive antivibration systems manufacturer Anvis Group GmbH, a company it has partnered with on two joint ventures.
The move will speed up Tokai's global expansion and access to foreign original equipment manufacturers, Tokai said. The Japanese company didn't disclose financial details of the purchase.
Tokai President Yoshiaki Nishimura said the Anvis deal will improve Tokai's access to Japanese and non-Japanese OEM customers and "enable us to actively respond to the needs of the global supply chain." The two companies had previously announced a joint venture in Mexico.
The recently announced joint ventures involved Anvis contributing a plant in Queretaro, Mexico, that serves primarily Volkswagen and Nissan, and the creation of Tokai Rubber de Mexico S.A.P.I. de C.V., which would build an AVS plant.
The closing of the transaction is subject to approvals and other factors laid out in the purchase agreement.