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Combined business will become the world's largest automotive brake friction manufacturer - TMD Friction Group SA ("TMD" or the "Company"), the world's leading manufacturer of friction materials for automotive and industrial applications, today announces its shareholders have reached agreement with Nisshinbo Holdings Inc. ("NISH"), a Japanese group listed on the Tokyo Stock Exchange, on the terms of a recommended acquisition of the Company. TMD has grown rapidly over the past three years, benefitting from strong growth in fast growing regions such as China, Brazil and the independent aftermarket.
The Company is now well positioned having made significant investment in capacity and product development as well as through targeted acquisitions. For the year ended 31...
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