Tokai Rubber to Acquire German Auto Rubber Maker
TOKYO, Jan. 25 (Kyodo) — Tokai Rubber Industries Ltd., a major Japanese producer of shock absorbent rubber for vehicles, said Friday it will acquire German rival Anvis Group GmbH to enhance sales in European markets.
Tokai Rubber is planning to purchase all shares of Anvis Group for 132 million euros, or about 15 billion yen, after they sign an agreement next Monday.
Through the acquisition, the Japanese firm is also aiming to expand manufacturing bases in emerging countries as Anvis Group has production bases in Russia, Mexico, South Africa and other countries.
Tokai Rubber's production bases are mainly in Asia, including China and India.