ELYRIA, Ohio — Knorr-Bremse AG has assumed operational control of Bendix Commercial Vehicle Systems LLC from Honeywell International Inc.
The deal, widely anticipated throughout the industry for some time, has passed review by U.S. regulatory authorities and the board of directors of Honeywell and the supervisory board of Knorr-Bremse gave their approval for the late last year.
“Bendix Commercial Vehicle Systems LLC has been operating as a joint venture — established in 1993 — between Honeywell and Knorr-Bremse AG. All of us enthusiastically welcome this consolidation of ownership to further solidify our global presence and superior product quality and performance,” says Bendix vice-president and general manager, Joe McAleese.
“The transaction affords you with the latest advances in European technology and engineering, partnered with the most comprehensive range of products available for today’s commercial vehicle. This is particularly true in the areas of electronic braking systems, air disc brakes, compressors and air treatment systems. Attached is a letter from Bendix vice president and general manager, Joe McAleese, and a press release about the transaction.”
The move completes the Knorr-Bremse international network, according to the company. Four Bendix development and manufacturing facilities — three in the U.S. and one in Mexico — now join Knorr’s 12 existing commercial vehicle development and production sites along with numerous sales companies in Europe and Asia Pacific.
There is no anticipated change to the local business leadership or to local business operations as a result of the ownership transition. Bendix, while fully integrated as a contributing member of the Knorr-Bremse Group, will continue to conduct business operations as usual.
As part of the arrangement, the company has converted its legal form from a general partnership — known as Honeywell Commercial Vehicle Systems Company — to a limited liability company, and as a result, changed its business name to “Bendix Commercial Vehicle Systems LLC”.
Knorr-Bremse also acquired Honeywell’s minority interest in Knorr-Bremse Systeme fur Nutzfahrzeuge GmbH of Munich, Germany and Knorr-Bremse Sistemas Para Veiculos Comerciasis Brasil Ltda of Sao Paulo, Brazil.
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