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Article: Avon Automotive sells anti-vibration parts unit.(Avon Rubber PLC. Avon Automotive)
- Article from:
- Rubber & Plastics News
- Article date:
- January 26, 2009
- Author:
CopyrightCOPYRIGHT 2009 Crain Communications, Inc. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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Byline: Mike McNulty
Dong Ah Tire & Rubber Corp. and Avon Automotive Inc. are heading in two different directions, which is why the companies just completed the sale of a business.
Avon wants to streamline its operation and focus on its core global hose segment, President and CEO Lee Richards said. So the company sold its Vibration Management Systems business to Dong Ah for an undisclosed amount.
Yusan, South Korea-headquartered Dong Ah wants to build a strong operation for anti-vibration products in Europe, where it previously had a small base. The acquisition of VMS gives it that opportunity, according to Sang-Hun Kim, Dong Ah president and ...