Phoenix AG Sells Vibracoustic Holding to Freudenberg
Continental AG (Hanover) is fulfilling its commitment to the EU Commission to turn over to competitors parts of Phoenix AG, which it has taken over. Freudenberg & Co. (Weinheim/Germany) is taking over the Phoenix AG’s holding in Vibracoustic, previously a joint venture, thus becoming the sole owner. Freudenberg is also purchasing Phoenix AG’s commercial vehicle air spring OEM/OES business.