Sogefi abandoned its acquisition of ThyssenKrupp Suspension Systems business

In November 2012, the Italian auto parts manufacturer Sogfi Group announced that it had terminated negotiations with ThyssenKrupp on the acquisition of the latter suspension system business, Eibach Federn.

Rodolfo De Benedetti, chairman of Sogfi Group, stated: “We have decided not to continue (to seek to acquire Eibach Federn). The company is currently focusing on organic growth, especially in the new market. We are no longer involved in acquisition negotiations on our agenda.”

According to Reuters news on April 19, 2012, ThyssenKrupp was negotiating with the Sogfi Group at the time, hoping to spend 100 million to 200 million euros (about 1.29 to 259 million U.S. dollars) for its spring and stabilizer business. Sold to the latter. A source recently revealed to Reuters that the two sides' negotiations were mainly focused on the non-European business of Eibach Federal.

Sogefi is the world's second largest suspension system component manufacturer. The company's operating income in 2011 reached 1.15 billion euros (approximately 1.49 billion U.S. dollars), of which the suspension component business accounted for 47.2% of its operating revenue; The company’s largest market is France, which accounts for 21% of its global business. The South American and German markets account for 20.8% and 13.7%, respectively.

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