Knorr-Bremse is to take over GT Group based in Peterlee (County Durham, UK) reinforcing its competitive position in the engine air management sector. The parties have agreed not to disclose the purchase price. The acquisition is subject to approval by the anti-trust authorities.
GT Group’s core business is the development and manufacturing of EGR valves and exhaust brakes for diesel engines used in the commercial vehicle sector. The owner-managed company with around 250 employees operates four locations in the Peterlee area and ranks in both product segments amongst the worldwide market leaders.
“The strategic fit of GT Group to Knorr-Bremse and the strong position of our combined businesses will enable us to meet the needs of our worldwide customers regarding the emission-compliant operation of diesel engines even more comprehensively,” says Peter Laier, member of the executive board of Knorr-Bremse AG, responsible for the Commercial Vehicle Systems Division.
“We access in-depth know-how in new technologies as GT’s mechatronic exhaust valves complement Knorr-Bremse’s existing product portfolio in Asia. Therefore we are planning a close engineering collaboration especially between GT Emissions Systems and our subsidiaries in Japan and China. Together with the GT Group we are aiming to grow in new regions and strengthen our market position in Europe and North America. This way KnorrBremse will take a further step toward its declared aim of offering integrated system solutions and subsystems that boost customer benefits, reduce costs and ensure both the safe and efficient operation of trucks, trailers, and buses over the entire life cycle.”
As GT Group chairman and previous owner Geoff Turnbull said: “Knorr-Bremse is at the pinnacle of engineering around the world and the perfect custodian for GT Group and the extensive expertise and technologies we have developed. The support it will provide to GT Group’s established and experienced management team will maintain our trajectory of growth and maximize on new opportunities across international markets. With the expertise of our workforce and the support of its new owners, I am confident I am leaving the business in very safe hands.”
Thanks to its long-standing expertise as a supplier to many OEMs and its ongoing development work, GT Group is ideally placed to offer its customers tailor-made solutions and provide them with optimum support as they develop future engine generations. With its global presence, Knorr-Bremse will be able to offer GT Group’s mature product technology not only in Europe and North America but also for local use in other markets currently subject to less stringent emissions regulations and/or adapt it to customer needs and market requirements. The GT Group products will complement the existing Knorr-Bremse portfolio (which includes Bendix) and contribute to an overall increase in powertrain know-how at Knorr-Bremse.