Dongah Tire & Rubber Acquires Avon Automotive Vibration Business
Automotive industry rubber products supplier Dongah Tire & Rubber has announced the December 31, 2008 acquisition of Avon Automotive’s Vibration Management Systems (VMS) business, which is headquartered in the Wiltshire town of Chippenham. The VMS business designs, manufactures and supplies engine and suspension mounts, mass dampers, tank track pads and other vibration management products to leading global automotive and defence customers in Europe and North America.
“Avon Automotive is a premier manufacturer of anti-vibration products and has been a technical leader in the marketplace for decades,” said Sang-Hun Kim, president and CEO of Dongah Tire & Rubber. “The acquisition of Avon Automotive’s VMS business expands Dongah Tire & Rubber Corporation’s global footprint of anti-vibration products into the European market, providing us with an existing customer base. It also complements our current product offerings.”
“This sale streamlines our business model, while allowing Avon Automotive to focus entirely on our core global hose business, which continues to experience growth, even in this very tough market,” said Lee Richards, president and CEO of Avon Automotive. “VMS is a well-respected and highly-technical business led by a talented group of employees. It now becomes part of an organisation with significant business in both Asia and North America that is committed to global growth.”
Dongah Tire & Rubber Corporation is headquartered in Yusan, South Korea. The company has more than 3,000 employees and annual sales of more than US$500 million. Dongah Tire & Rubber’s anti-vibration business employs more than 300 people with manufacturing plants in South Korea and China. The company has technical centres in Michigan, USA and Jinju, South Korea.