German’s Contitech Acquires Tennessee’s Cadna Rubber Co.
Memphis, TN – German auto parts supplier ContiTech has strengthened its position in the US automotive aftermarket with its acquisition of Memphis, Tennessee-based US automotive parts distributor Cadna Rubber Co.
“In ContiTech we have found the right technology partner who will help us to achieve our growth objectives in North America ,” says Cadna CEO Devin Hart who will stay on with the company as its General Manager.
ContiTech, he said, “is among the leading suppliers in the Automotive OE market. Our customers will benefit greatly from the industry expertise they provide.”
The US company generated approximately $15 million in sales in 2013.
ContiTech’s parent, Hanover, Germany-headquartered Continental, is a major supplier of brake systems, systems and components for powertrains and chassis, instrumentation, ‘infotainment solutions,’ vehicle electronics, tires and technical elastomers. The company currently employs around 182,000 people in 49 countries.
It’s ContiTech division numbers among the leading suppliers of a host of technical rubber products and is a specialist for plastics technology. The division develops and produces functional parts, components and systems for the automotive industry and other industries. The company currently has a workforce of approximately 29,700 employees.
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