Hanon Systems Strengthens Automotive Condenser Portfolio

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May 07, 2021, 11:01 ET

SEOUL, South Korea, May 7, 2021 /PRNewswire/ -- Global automotive supplier Hanon Systems (KS: 018880) today announced it has completed the acquisition of condenser business from Keihin Corporation for certain operations in Europe and North America.

"This strategic acquisition expands our ability to supply automakers with condenser technology and further diversifies the customer base of Hanon Systems," said Nurdal Kücükkaya, representative executive officer and president of Hanon Systems. "Condensers continue to be an important heat exchanger technology in automotive thermal management to support conventional and electrified vehicles."

Min Sung, representative executive officer and chief executive officer of Hanon Systems, added: "We are pleased to acquire this business from Keihin, and commit to integrating this business as quickly as possible to ensure a smooth transition for all stakeholders involved."

The acquisition includes Keihin's condenser operation in Kladno, Czech Republic, and San Luis Potosi, Mexico; and a portion of the condenser business in the U.S. Approximately 500 employees transfer to Hanon Systems in this transaction.

About Hanon Systems
Hanon Systems is a full-line supplier of automotive thermal and energy management solutions for electrified and conventional vehicles. Its offering includes a wide range of solutions in the areas of heating ventilation and air conditioning; powertrain cooling; compressor; fluid transport; and electronics and fluid pressure. The company currently operates 51 manufacturing sites and three technical innovation centers, and employs more than 21,000 people across 21 countries. To learn more, visit hanonsystems.com.

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SOURCE Hanon Systems