Press release June 04th 2012 – 5:45 pm
Formation of a jointventure dedicated to automotive applications
RADIALL and ARaymond announced this Monday, the finalization of an agreement establishing their joint venture, dedicated exclusively to the passive interconnection component market for automotive applications.According to this agreement, ARaymond acquires retroactively as of January 1st, 2012, 50% of the company RAYDIALL consisting of RADIALL’s automotive division. This division, which generated approximately € 11 million in sales in 2011, will continue its expansion in the form of a joint venture, held equally by the two partners, with the stated goal of becoming a leading player in its sector.The scope of this project primarily includes the workforce of the Champfeuillet Isère, France site, of approximately 50 people dedicated to manufacturing and to research and development, and RADIALL’s international automotive business assets, mainly in Germany, Italy and in the United States.
At the same time, RAYDIALL will receive business support, from ARaymond’s sales teams.Antoine Raymond and Pierre Gattaz, the respective heads of the two family-owned groups, stated:”We are really delighted (…)
via RADIALL : Formation of a joint venture RAYDIALL dedicated to automotive applications | 4-Traders.