Johnson Control Buys Romanian Spumotim's Auto Division
U.S. car parts maker Johnson Control announced it has bought the automotive division of Romanian polyurethane foam maker Spumotim Timisoara, for an undisclosed amount.
Local competition authorities approved the deal on November 30, according to a Johnson Control news release.
The US-based company expects the Romanian automotive market to widen by some 80% over the next four years, and its purchase of Spumotim should provide alignment with the anticipated developments.
“Romania is an important part of the growing Eastern European automotive market. The acquisition of Spumotim is intended to support several of our customers – Dacia, Ford and Fiat – that operate production facilities in the region,” said Brian Cooke, vice president and general manager of the global foam business unit at Johnson Controls Automotive Experience.
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