Factory has new owners

A CLECKHEATON factory has new owners after its German parent group was taken over by a Japanese firm.
TMD Friction UK, in Hunsworth Lane, will be part of Nisshinbo Holdings Inc along with other bases in Hartlepool and Manchester.
The Moorend site, which dates back to 1878, makes disc brake pads and drum brake linings for cars and commercial vehicles.
Other factories in parent company the TMD Group’s stable make similar products for racing cars and trains.
Their brands include Mintex and Textar. The TMD Group reported a 20% increase in sales to 637m euros up to December 2010.
The TMD Group will keep its name under the takeover deal but will be a whollyowned subsidiary of Nisshinbo Holdings Inc.
Nisshinbo’s brake manufacturing empire includes factories in South Korea, the USA and India. The firm’s other activities take in textiles and electronics.
The deal is subject to competition authority approval. Once finalised, it will take Nisshinbo’s turnover to more than 1bn euros and 6,000 staff worldwide.
TMD Group chief executive Derek Whitworth said the takeover would give the firm access to emerging markets. He said: “This is a great opportunity to continue our development with a strong and successful partner. Their expertise, particularly in the markets where we are growing fastest, will be invaluable as we seek to accelerate our expansion.”
Nissinbo’s president Koji Nishihara added: “The combination creates the largest automotive brake friction manufacturer in the world.”

Share this post