Business
Gentherm Completes Acquisition of Alfmeier’s Automotive Business
Creates the largest global supplier of thermal and pneumatic comfort for the automotive industry NORTHVILLE, Mich., Aug. 01, 2022 (GLOBE NEWSWIRE) -- Gentherm
About this update from Gentherm Inc
[{"type":"text","content":"Creates the largest global supplier of thermal and pneumatic comfort for the automotive industry\nNORTHVILLE, Mich., Aug. 01, 2022 (GLOBE NEWSWIRE) -- Gentherm (NASDAQ:THRM), the global market leader of innovative thermal management and pneumatic comfort technologies for the automotive industry, today announced that it has completed the acquisition of the automotive business of Alfmeier Präzision SE (“Alfmeier”). Alfmeier, headquartered in Treuchtlingen, Germany, is an innovative market leader in automotive lumbar and massage comfort solutions, with deep expertise in advanced valve system technologies, integrated electronics, and software. The acquisition further expands Gentherm’s current value proposition beyond thermal in comfort, health, wellness, and energy efficiency. “This transaction aligns well with global consumer demand for expanded offerings in vehicle passenger comfort. Combining Alfmeier’s technological advancements in physiotherapy with Gentherm’s expertise in thermophysiology maximizes our capabilities of providing world class comfort and wellness solutions,” said Phil Eyler, Gentherm's President and CEO. “Alfmeier’s industry leading expertise in air and liquid flow valve systems also is expected to open additional growth opportunities for Gentherm’s ClimateSenseTM and Battery Performance Solutions. We are excited to welcome the members of the Alfmeier team to the Gentherm family.” Investor ContactYijing [email protected] 248.308.1702 Media ContactMelissa [email protected] 248.289.9702 About GenthermGentherm (NASDAQ:THRM) is the global market leader of innovative thermal management and pneumatic comfort technologies for the automotive industry. Automotive products include variable temperature Climate Control Seats, heated automotive interior systems (including heated seats, steering wheels, armrests and other components), battery performance solutions, cable systems, lumbar and massage comfort solutions, valve system technologies, and other electronic devices. Medical products include patient temperature management systems. The Company is also developing a number of new technologies and products that will help enable improvements to existing products and to create new product applications for existing and new markets. Gentherm has more than 13,000 employees in facilities in the United States,...