Kendrion N.V. (KENDR.AS) on Monday announced a long-term cooperation with Knorr-Bremse for its Sibiu Mobility electronics operations.
This partnership is a major step in Kendrion's move to focus solely on its Industrial business.
As part of the deal, Knorr-Bremse will provide phased financial contributions to share production capacity and cover part of the fixed costs of the electronics operations in Sibiu. Kendrion and Knorr-Bremse will gradually transfer production capacity, with Knorr-Bremse eventually taking full ownership of the facility.
The Sibiu facility, which specializes in advanced mobility technologies such as fuel pump controllers, BLDC controllers, and sound ECUs, is expected to generate around 35 million euros in revenue in 2025.
"The agreement with Knorr-Bremse represents a pivotal milestone in Kendrion's transformation and our commitment to creating long-term value. By collaborating with a trusted industry leader, we are securing the continued success and stability of our Sibiu operations, safeguarding employment for our dedicated workforce, and strengthening cash flow for the years ahead."
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