Stemco announces intent to acquire manufacturer of Goodyear Air Springs

June 5, 2015
Stemco, an EnPro Industries company, announced it has entered into an agreement to acquire the Veyance North-American air springs business from Continental AG, subject to certain regulatory approvals.

Stemco, an EnPro Industries company, announced it has entered into an agreement to acquire the Veyance North-American air springs business from Continental AG, subject to certain regulatory approvals. The air springs business unit is the manufacturer of Goodyear air springs and was previously part of Veyance Technologies, Inc. which Continental acquired in January 2015. 

In a letter to customers, Stemco President Todd Anderson informed them of the company's intent to purchase the air springs business unit, which includes facilities in Fairlawn, Ohio and San Luis Potosi, Mexico where the Goodyear air springs are manufactured. The deal will also bring the existing air springs manufacturing, design and support teams onto the Stemco staff.

"The air springs business carries with it premium product performance," says Anderson. "Customers will be able to count on the same consistent product performance and brand attributes, as the products will continue to be manufactured in the same facility and engineered by the same design team with the same support functions, in addition to gaining the support of the entire Stemco team."

He added, "We are looking forward to the air springs team joining the Stemco family. Their record of success and growth potential make this an exciting addition to our business. Stemco's commercial vehicle market focus, superior product technology and outstanding reputation for training and customer support make this acquisition a complement to the STEMCO business strategy.

"Our focus remains on providing the highest level of product innovation, quality, service and support that customers have come to expect and count on from Stemco."

During the transition period, which Stemco expects to be completed in July, all customer inquiries, payments and other communications will be handled through their existing channels. Upon the closing of the transaction, the Stemco sales team will work in conjunction with the existing air springs team to fully support the customer network.

Sponsored Recommendations

How to Properly Lubricate your Air Tools

Learn how to properly lubricate your AIRCAT air tools to keep them running at peak performance. Discover essential daily maintenance and storage techniques, along with the right...

Save Time with Standard's Kits & Multipacks

Stock up on essential repair kits! Discover how Standard's multipacks simplify repairs and reduce downtime.

Fuel Injection Training – Pro Tips for Techs

Choosing the right fuel injector matters. Learn best practices for selection and related component recommendations.

ABS Sensor Insights – Get the Right Fit Every Time

ABS sensors are critical to vehicle safety. Learn how they interact with electronic systems and how to choose the best replacement.

Voice Your Opinion!

To join the conversation, and become an exclusive member of Vehicle Service Pros, create an account today!