Dongah Tire & Rubber Acquires Avon Automotive Vibration Business

CADILLAC, Mich. & TAYLOR, Mich.--(BUSINESS WIRE)--Dongah Tire & Rubber Corporation, a leading supplier of rubber products for the automotive industry, has announced the acquisition of Avon Automotive’s Vibration Management Systems (VMS) business.

Based in Chippenham, England, Avon Automotive’s 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 defense customers in Europe and North America. Revenues for 2008 totaled approximately $60 million.

“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.”

The acquisition was completed on December 31, 2008. Financial terms of the acquisition were not released.

“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 organization 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 $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 centers in Taylor, Mich., and Jinju, South Korea.

Headquartered in Cadillac, Mich., Avon Automotive is a leading global supplier of low-pressure hoses for air-induction, fuel and coolant systems. The company serves a diversified customer base within the automotive, heavy truck, small engine and recreational vehicle markets. Avon Automotive generates annual revenues of approximately $240 million at 10 manufacturing facilities in eight countries. The company has more than 2,700 employees.