Norma Group SE is to acquire all assets of the Autoline business from Parker’s Fluid Systems Connectors Division, Parker Autoline.
The move means Norma Group is expanding its product portfolio in the area of quick connectors and bolstering its market position - expected global sales of Parker Autoline are around EUR 40 million in fiscal year 2016 (ending 30 June 2016).
The terms of the deal are under wraps and completion is expected in the second half of 2016.
Parker Autoline designs, manufactures and markets quick connectors for all types of automotive fluid line applications. These plastic push-to-connect components are used in all vehicle types in fuel lines, cooling lines, vapor lines, braking assistance lines and Selective Catalytic Reduction circuit lines. The connecting products are manufactured at production sites in France, Mexico and China and sold to customers around the world.
“These innovative and high-quality Autoline products complement our plastic product range in an ideal way,” said Werner Deggim, CEO of Norma Group. “In addition, we will be opening up new international markets, particularly in Asia, by acquiring Parker Autoline.”
Parker Autoline's HQ is in Guichen, France.
