The business, which involves the production of friction discs for off-road vehicles, will to be handed over from Schongau, Germany to Miba sites in Austria and Slovakia step by step. Miba will also take over Hoerbiger Drive Technology Pvt Ltd, based in Pune, India, in January 2011.
“We are growing in one of our strategic core areas, friction, and we are joining together the activities of two experienced partners,” said Peter Mitterbauer, CEO of Miba. The new site in India expands Miba’s global network, providing our customers with the best possible support through local production,”
The company will form part of Miba Friction Group, a supplier of friction linings for the international motor vehicle and machinery industry. In off-road vehicles, friction linings are used in clutch and brake systems in construction machinery, tractors, marine vessels and special-purpose vehicles. In a recent first half report, Miba posted a half-year revenue of €203.1 million, up 37% from the previous year.
"Miba is the leanest and strongest it’s been in a long time,” said Mitterbauer. “Our consistent focus on high technology and our strict cost management have equipped us for future opportunities that we are now seizing. We continue to be oriented toward profitable growth."