UK manufacturer GKN has sold its 50 per cent stake in its emissions reduction technology business Emitec for £38m.
German automotive company Continental, which already owns 50% of Emitec, bought out GKN’s share and plans to integrate Emitec into its powertrain division.
Emitec, which specialises in the manufacture of metallic catalytic converter substrates and selective catalytic reduction dosing systems, will see its operation integrated with Continental’s fuel supply business.
This will result in the formation a new fuel and exhaust management business arm, headed up by Emitec CEO Dr. Berthold Curtius, who was also former head of fuel supply business arm.
Dr. Markus Distelhoff, head of the new business unit, said: “We can see Emitec’s strengths. We want to hold on to them and develop them further.”
The company also confirmed products will continue to trade under the Emitec name while operations will remain at its headquarters in Lohmar, Germany.
Continental’s purchase of the remaining shares of Emitec means the automotive supplier will now offer complete exhaust-gas after treatment systems, a market pinpointed as an important area of growth.
