Mutares SE & Co. KGaA $MUX (+2.01%) and AUMOVIO, formerly the automotive sector of Continental, have successfully completed the acquisition of AUMOVIO's drum brake production and R&D site in Cairo Montenotte (Italy).
As part of the share deal, Mutares has taken over all employees and business activities.
The transaction strengthens Mutares' Automotive & Mobility segment as a new platform investment under the new name Zendra Systems.
The site in Cairo Montenotte (Savona), Italy, is a production and R&D site for hydraulic drum brakes. Products such as the parking brake for simplex brakes and the drum brake are manufactured there.
The company employs around 400 people and is expected to generate sales of around €100 million in 2025.
