Bosch acquires brake business from Morse Group
Bosch plans to acquire the brake friction business of the Morse Automotive Corporation headquartered in Chicago. The price of the acquisition was not disclosed.
The Morse Group develops, manufactures, and markets pads for disc brakes and linings for drum brakes, as well as brake calipers, predominantly for the North American market. In fiscal 2007, its 1,640 associates generated sales of $157 million.
"For us, the brake products business is a strategic growth area, and we consider brake pads to be a key element of this portfolio," said Robert Hanser, president of the Bosch Automotive Aftermarket division. "The acquisition of Morse's friction business is our entry into the production of brake pads, as well as an opportunity to expand our position in the North American market in a way which is consistent with our overall strategy."
The business acquired from the Morse Group is set to be integrated into the Bosch Automotive Aftermarket division, in a new business unit called Braking Systems. The Morse Group plans to continue all of its other existing aftermarket activities, such as the brake caliper business.
