Knorr-Bremse AG, of Munich announced today that it has assumed operational control of Bendix Commercial Vehicle Systems LLC from Honeywell International Inc. As part of the transaction, Knorr-Bremse acquired Honeywell’s minority interest in Knorr-Bremse Systeme für Nutzfahrzeuge GmbH of Munich, Germany and Knorr-Bremse Sistemas Para Veículos Comerciasis Brasil Ltda of São Paulo, Brazil.
The deal, widely anticipated throughout the industry for some time, has passed review by U.S. regulatory authorities. The board of directors of Honeywell and the supervisory board of Knorr-Bremse have given their approval for the transaction late last year.
Knorr-Bremse is a privately owned German firm that produces braking systems for railways and commercial vehicles. Bendix Commercial Vehicle Systems LLC had been operating as a joint venture between Honeywell and Knorr-Bremse AG since 1993. The Bendix brand name will remain intact following the January transaction close.
”The deal further solidifies the opportunity for our customers to receive the latest advances in European technology and engineering,” said Joe McAleese, Bendix vice president and general manager. “This is particularly evident in the areas of electronic braking systems, air disc brakes, compressors and air treatment systems.”
The move completes the Knorr-Bremse international network. Four Bendix development and manufacturing facilities – three in the US and one in Mexico – now join Knorr’s 12 existing commercial vehicle development and production sites along with numerous sales companies in Europe and Asia Pacific.
There is no anticipated change to the local business leadership or to local business operations as a result of the ownership transition, and Bendix will continue to offer its full line of genuine Bendix products. The company also plans to expand product availability to include Knorr-Bremse components as well. Research and development activities will continue on both sides of the Atlantic.