KUO Group acquires Dual Clutch Transmissions technology leader
Mexico City, January 12, 2012 – Grupo KUO, SAB de CV (BMV: KUO), through its subsidiary TREMEC, acquired the business of high-tech automotive design and development organization HOERBIGER Drivetrain Mechatronics BVBA located in Loppem, Belgium. HOERBIGER products and software solutions are found in leading European sports cars, including Ferrari Italia 485, AMG SLS and McLaren MP4-12C.
In 2010, the acquired business had sales of approximately $US 17 million. Among its clients are leading manufacturer of transmissions in Europe.
Compared with conventional manual and automatic transmissions, DCT systems are characterized by higher comfort shifting gears in a faster acceleration and efficiency of the fuel.
“This acquisition will allow Grupo KUO to accelerate its entrance into DCT systems and allow us to pursue new market segments with high growth,” said Juan Marco Gutiérrez Wanless, CEO of Grupo KUO.