Hayes Lemmerz Sells Aftermarket Brake Controller Business
Hayes Lemmerz International, Inc is to sell its aftermarket brake controller business to Hayes Brake Controller Company, a limited liability corporation formed by Syncro Corporation of Arab, Alabama. Under the agreement Hayes Brake Controller Company will acquire all inventory, assets and intellectual property necessary to the operation of the aftermarket brake controller business. Financial terms of the transaction were not disclosed.
“This deal is consistent with the strategic objectives of both companies,” said Ed Kopkowski, president of the North American Wheels, Commercial Highway and Aftermarket Business Unit at Hayes Lemmerz. “The sale will allow Hayes Lemmerz to focus on growing its core wheel business. At the same time, Syncro has been a long-term partner in the design, development and manufacturing of all of our brake controller products. As a core business of Syncro they will allocate the resources necessary to improve and grow this business. We intend to work with Syncro to ensure a rapid and successful transition.”