Brake friction specialist TMD Friction confirms sale of its rail business
Leverkusen/Luxemburg, 08.02.2016 – Brake friction specialist TMD Friction has confirmed the sale of its global rail business to Knorr-Bremse. In line with its long-term business strategy TMD Friction has decided to further focus on its core friction business.
The sale includes the complete transfer of the rail product portfolio, the rail dedicated development, testing and manufacturing assets, and intellectual property as well as TMD Friction’s Manchester site (United Kingdom) to Knorr-Bremse. The industry sector business activities remain within TMD Friction.
TMD Friction’s Coswig site (Saxony,Germany) previously operated as a twin site for the Independent Aftermarket and Rail & Industry business units. Coswig will continue as a TMD Friction site and will be dedicated to the manufacture of commercial vehicle brake pads and the industry business, supporting TMD Friction’s growing Independent Aftermarket business.
TMD Friction and Knorr-Bremse have agreed not to disclose any further information on the transaction.
ABOUT TMD FRICTION
TMD Friction is one of the world’s leading manufacturers of brake friction materials to the automotive and brake industry. The company’s product portfolio comprises disc brake pads and drum brake linings for passenger cars and commercial vehicles together with friction materials for racing and industrial applications. With its brands Textar, Mintex, Don, Pagid, and Cobreq, TMD Friction has a market-leading position in the global replacement parts market. Under the brand names Cosid and Dynotherm TMD Friction develops and produces friction materials for industrial applications. TMD Friction has operations in Germany as well as in Europe, USA, Brazil, Mexico, China, Japan and South Africa. The TMD Friction Group employs approximately 4,800 people worldwide. For further information please visit www.tmdfriction.com
TMD Friction Holdings GmbH
Schlebuscher Straße 99
Phone: +49 (0)2171 501 9974