Tekfor

Mutares SE & Co. KGaA completed the acquisition of the Italian business of Tekfor Group, a manufacturer of automotive components. The company now operates as PRIMOTECS, with about 670 employees and expected 2020 sales of EUR 120 million.

Mutares SE & Co. KGaA signed an agreement to acquire the Italian business of Tekfor Group, including Tekfor S.p.A. with two production sites near Turin, for an undisclosed amount.

Tekfor is investing €10 million to build a 6,000+ sqm production facility for automotive drivetrain components at its existing site in Schmölln, Germany. The expansion will create additional jobs beyond the current 300 employees.