AUSTRALIA: Knorr-Bremse has acquired heating, ventilation and air-conditioning specialist Sigma Coachair Group with effect from September 29, saying the move is part of its long-term strategy of expansion through targeted acquisitions.
Knorr-Bremse's Merak subsidiary supplies HVAC systems in China, Europe and the Americas, and the acquisition of SCG will provide access to the growth markets of southeast Asia, India and Australia.
SCG employs around 200 people and has production sites in Australia, China, the UK and USA. Its annual sales of €50m are mostly in the rail vehicle market, with long-standing customers including Downer EDI, Bombardier, Kawasaki Heavy Industries, United Group, Hitachi and Hyundai Rotem.
