The Jost Group and Daimler AG have successfully concluded their negotiations on the acquisition of Mercedes-Benz TrailerAxleSystems.
Subject to the approval of the antitrust authorities, Jost will officially take over Mercedes-Benz TrailerAxleSystems on 1 January, 2015. At present, both parties have agreed not to disclose the purchase price.
“We are delighted to welcome Mercedes-Benz TrailerAxleSystems to JOST Group. The company’s strong and well established products are a natural strategic extension of our product portfolio,” said Jost CEO, Lars Brorsen.
Norbert Rehbein, responsible for TrailerAxleSystems at Mercedes-Benz added, “The integration into JOST Group is the right step into a successful future. Going forward we will be part of a dynamically growing supplier of system solutions for the commercial vehicle industry. JOST’s global presence will support us in driving our international ex-pansion.”
According to Jost, the completion of the transaction will potentially make the company one of the largest manufacturers of trailer axles in Europe.