HORIBA Automotive Test Systems Signs Agreement to Acquire FuelCon AG
OBERUESEL, Germany, August 10, 2018 /PRNewswire/ --
- Acquisition will assert HORIBA's position as a leading solutions provider in the development of battery and fuel cell systems for electrified vehicles
- Allows FuelCon to access HORIBA's global network and provide validation solutions for increasingly complex vehicle test requirements
HORIBA Europe GmbH has today announced that it has agreed terms for the acquisition of FuelCon AG ("FuelCon"). FuelCon will become part of HORIBA Automotive Test Systems - a leading supplier in the fields of engine, driveline, brake and emissions test systems. The completion of the transaction is subject to regulatory clearance.
Founded in 2001 and based in Magdeburg-Barleben, Germany, FuelCon is a leading manufacturer and supplier of R&D and EOL (end of line) test beds and turnkey solutions for the E-Mobility sector, with expertise in battery and fuel cell applications.
FuelCon has an enviable reputation for design and manufacture of precision high performance solutions and is trusted for its deep technical know-how by global OEMs and Tier 1s as well as international research laboratories. Through joining the HORIBA group of companies, FuelCon will be able to respond to the growing need for increasingly complex development and validation solutions and harness HORIBA's extensive international network.
This acquisition represents a strategic move from the HORIBA group to increase its presence in the vehicle electrification market. The purchase will enable HORIBA to provide a comprehensive suite of test and development solutions across battery and fuel cell lifecycles. This will enable HORIBA to increase its access to the growing global market requirement for E-Mobility solutions and capitalise on the growing demand for validation technologies.
Dr George Gillespie, Executive Vice President, HORIBA Automotive Test Systems said: "In line with global megatrends, we are witnessing the continued electrification of transport with a mix of pure EV and complex hybrid solutions. With this in mind, HORIBA needed to find a suitable industry leader who offered a range of technical solutions that complement our existing automotive test systems business and our position of global leadership in emissions measurement. In FuelCon we have found the perfect partner."
Mathias Bode, Managing Director, FuelCon commented: "Over the past 18 years, FuelCon has become a leader in battery and fuel cell validation solutions. With increasing number of challenging requests, we need to provide solutions that meet complex validation needs across the globe. With HORIBA we have found a partner who will give us that international reach and with their track record in the manufacture of complex test and measurement solutions, they understand our need to continue to be able to respond promptly to complex customer demands."
Dr Robert Plank, COO, HORIBA Europe GmbH said: "We regard FuelCon as the perfect fit for our strategic ambitions. With their range of products and their applications expertise, we see a great future ahead of us. We will now be able to offer an increasingly comprehensive suite of test and validation solutions for a full range of automotive propulsion technologies moving from combustion engines to electrified powertrains. By bringing FuelCon into the HORIBA group of companies and developing their Magdeburg facility as our global centre of competence for fuel cell and battery test systems, we take another step in future-proofing our automotive business and achieving our aim of becoming the number one partner for validating vehicle efficiency and performance."
Notes to Editors
About HORIBA
Headquartered in Kyoto, Japan, the HORIBA Group is a global leading supplier of measurement technology and systems for various fields from automotive testing, process and environmental monitoring, in-vitro medical diagnostics, semiconductor manufacturing and metrology to scientific R&D and QC measurements.
Company Name: HORIBA, Ltd.
Address: 2, Miyanohigashi-cho, Kisshoin, Minami-ku, Kyoto, Japan
Web Address: http://www.horiba.com
Founded: October 17, 1945
Incorporated: January 26, 1953
Net Sales: 195,399 million Japanese yen (Consolidated, Fiscal 2017)
Paid in Capital: 12,011 million Japanese yen (As of December 31, 2017)
Business Domain: Manufacture and sale of analytical measurement equipment
Fiscal Closing Date: December 31, annually
Annual Meeting of Shareholders: Held in March
Number of Employees: 7,399 (Consolidated, as of December 31, 2017)
Representative: Atsushi Horiba - Chairman and Group CEO
Stock Listings: Tokyo Stock Exchange, First Section Securities Code: 6856
About HORIBA Automotive Test Systems
A business segment of the HORIBA Group, Automotive Test Systems (ATS) which has developed global leadership in the fields of engine test systems, driveline test systems, brake test systems, wind tunnel balances and emissions test systems. HORIBA ATS is able to offer its customers complete solutions with full turnkey capability for all industries using electric motors, internal combustion engines and turbines. These include the automotive, heavy-duty, off-road, consumer goods, marine, aerospace and locomotive sectors.
About FuelCon
FuelCon is a global leading supplier of test systems for fuel cells and batteries. For years, the name has been recognized for innovative engineering, high quality, the highest safety standards and close consultation with its customers.
With testing systems for fuel cells FuelCon offers optimal solutions for all typical technologies such as PEM or SOFC with a power range up to 250+ kW. In addition, innovative test systems for evaluating electrolysers are also available.
With the "Evaluator-B" series FuelCon has developed a concept that fulfils the challenging testing requirements of modern batteries in R&D as well as in production, with high accuracy and flexibility.
Company Name FuelCon AG
Establishment 2001
Address Magdeburg-Barleben, Sachsen-Anhalt, Germany
Business Fuelcell testing instruments and Battery testing instruments
For further information about HORIBA Automotive Test Systems, please contact Grayling on +44-121-265-2760 or email [email protected]
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