JOST Group signs agreement with Daimler AG on the acquisition of Mercedes-Benz TrailerAxleSystems
JOST Group and Daimler AG have successfully concluded their negotiations on the acquisition of Mercedes-Benz TrailerAxleSystems. Following completion of the transaction, JOST Group will be one of the largest manufacturers of trailer axles in Europe.
JOST Group, the world's leading producer of vehicle connection components for systems, modules and components for trucks & trailers, acquires Mercedes-Benz TrailerAxleSystems effective 1 January 2015, subject to the approval of the antitrust authorities. This was announced by Lars Brorsen, CEO of JOST Group, after signing the purchase agreement on Monday 27 October 2014. Both parties a greed not to disclose the purchase price. After the takeover of UK based Edbro in 2012, JOST Group with this acquisition takes the next major step in expanding its international business activities.
CEO Lars Brorsen: “We are delighted to welcome Mercedes-Benz TrailerAxleSystems to JOST Group. The company’s strong and well establish ed products are a natural strate- gic extension of our product portfolio.”
Norbert Rehbein, responsible for TrailerAxleSystems at Mercedes-Benz: “The integration into JOST Group is the right step into a successful future. Going forward we will be part of a dynamically growing supplier of system solutions for the commercial vehicle industry. JOST’s global presence will support us in driving our international expansion.”
Following the acquisition by JOST, the customers of Mercedes-Benz TrailerAxleSystems will continue to obtain all current products at the usual high level of quality. The administrative functions of Mercedes-Benz TrailerAxleSystems will be newly structured and integrated into the JOST organization beginning January 2015.
Since 1996, Mercedes-Benz TrailerAxleSystems has been active in the production of commercial vehicle axles for the European market. Today the company is one of Europe’s largest producers of trailer axle systems.