hde Acquires Tower Automotive Hydroforming
The leading German hydroforming supplier hde Solutions acquires hydroforming company and raises its speed of growth.
Menden, 30. September 2005. hde Solutions GmbH, the leading German supplier of solutions in hydroforming, has acquired the business operation of Tower Automotive Hydroforming GmbH & Co. KG (Chemnitz). This has been announced by hde, which is situated in Menden in the Sauerland. The location in Chemnitz up to now belonged to the US-American auto part supplier Tower Automotive. The company is one of the biggest suppliers of auto body parts worldwide. As a result of the take over hde can extend its capacities of production und secure its high speed of growth.
The two companies fit together very well; comments hde's CEO Tom Graf today in Menden. Both hde and Tower Automotive have an attractive and forward-looking portfolio.
Tower Automotive Hydroforming GmbH & Co. KG in 2004 has a turnover of nearly 8 m Euro and a staff of around 50. It is a strong company with a strong workforce, situated at one of Germany's most traditional industrial regions; Graf emphasises. The CEO of hde continues: "Our customers all welcome the acquisition unanimously. This already shows how right our decision was."
According to the management the site at Menden will also profit from the takeover. Tom Graf: "Together with the business in Chemnitz we can shape our future growth in a better way, that is to say more customer orientated and more profitable." Additionally the new location in Chemnitz is going to be extended.
About hde Solutions
The technology company hde Solutions GmbH is specialised on innovative methods of moulding metal-tubes (hydroforming) and the production of profiles with structured surfaces. Main customers of the company with an amount of about 70 per cent are nearly all well-known suppliers of exhaust-systems and manufacturer of the international automotive industry. This is followed by the heating- and air-conditioning-technology, machine- and plant-construction, design companies, and the aerospace industry.
Turnover and profit of hde Solutions GmbH is growing continuously and the company is in the black. During the past two years hde could increase its turnover by 42 per cent to almost 33 mill. Euro. Furthermore, the staff at the location at Menden grew by almost 20 per cent. In the middle of 2003, hde Solutions had come out of its predecessor the hde Metallwerk; by means of an MBO. The owners of hde are Tom Graf (CEO), Stefan Rossner (sales), Stefan Geissler (R&D) und Klaus Schreckenberger (finance) as well as the capital shareholders Business Angel Fondsverwaltungsgesellschaft mbH, Kapitalbeteiligungsgesellschaft der deutschen Versicherungswirtschaft AG and NORD Holding Unternehmensbeteiligungsgesellschaft mbH.