# Knorr-Bremse acquires Hitachi Automotive Systems' commercial vehicle steering business

Knorr-Bremse signed an agreement to acquire the commercial vehicle steering systems business (IPS) from Hitachi Automotive Systems, Ltd. in Japan and Thailand. The business generated close to 100 million euros in turnover in 2017 and has approximately 350 employees. The transaction is expected to close in Q1 2019.

- Type: Acquisition
- Announced: 2018-12-07
- Where: Japan and Thailand, Japan
- Jobs: 350
- Status: announced
- Products: recirculating ball steering gears for commercial vehicles
- Sectors: [Automotive Components](https://endata.com/sectors/automotive-components.md)

## Companies

- [Hitachi Automotive Systems](https://endata.com/companies/5033.md) (target)
- [Knorr-Bremse](https://endata.com/companies/7696.md) (acquirer)

## Sources

- [ir.knorr-bremse.com](https://ir.knorr-bremse.com/en/news/knorr-bremse-aktiengesellschaft-knorr-bremse-acquires-the-commercial-vehicle-steering-systems-business-of-hitachi-automotive-systems-ltd/2fc0ed4c-0f4d-4ea4-a7f2-cc83662aa347), 2018-12-07: "Knorr-Bremse acquires the commercial vehicle steering systems business of Hitachi Automotive Systems, Ltd. in Japan and Thailand."

---
Data from Endata (https://endata.com/). Announcements are summarized from public sources and may be incomplete; check the linked originals.