6/12/2012 1:07:00 AM
HEADLINES
ARaymond Forms Joint Venture with Radiall
ARaymond and RADIALL established a joint venture dedicated to the passive interconnection component market for automotive applications.
ARaymond acquires retroactively as of January 1st, 2012, 50% of the company RAYDIALL consisting of RADIALL’s automotive division. This division, which generated approximately € 11 million in sales in 2011, will continue its expansion in the form of a joint venture held equally by the two partners.
The scope of this project primarily includes the workforce of the Champfeuillet (Isère, France) site, of approximately 50 people dedicated to manufacturing and to research and development, and RADIALL’s international automotive business assets, mainly in Germany, Italy and the U.S.
The new company will be called RAYDIALL and will receive business support from ARaymond’s sales teams.
Antoine Raymond and Pierre Gattaz, the respective heads of the two family-owned groups stated:
“Combining the technological and industrial expertises acquired by RADIALL in the connector component sector and ARaymond’s exceptional knowledge of the automotive market will allow us to rapidly create real value for our customers in the automotive sector, in key technological components of the vehicles of the future.”
RADIALL designs, develops and manufactures electronic components. ©2012 GlobalFastenerNews.com
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