Estra, a European supplier to carmakers such as BMW and Stellantis, is changing hands. Previously owned by Chinese technology group Shangai Aerospace Automobile Electromechanical, the company has been acquired by Austrian automotive supplier Innerio “in a share transaction.” “The parties have agreed not to disclose the purchase price,” says the press release.
As part of the transaction, Innerio will take over Estra’s existing supply agreements and contracts, and the Luxembourg and Polish sites will continue to operate. “In a project scheduled to run until the end of 2025,” says the press release, “product development will be accelerated, and existing processes and product qualities will be optimised and harmonised with Innerio’s standards. In the medium term, Estra Europe will be incorporated into the Innerio brand family.”
Estra Europe generates annual sales of around €160m and employs some 1,150 people between its engineering site in Luxembourg and its production plant in Poland. It specialises in cooling modules for automotive engines, transmissions and air conditioning systems. It will provide a strategic extension to the portfolio of Innerio, which specialises in the manufacture of heat exchangers for air conditioning, battery and electric motor cooling, and intercooling for hybrid vehicles.
The Austrian group already comprises four companies--Innerio Heat Exchanger, Fertinger Tubes, Rupert Fertinger and Fertinger Automotive Polska--with five sites and training centres in Austria, Germany and Poland. “The acquisition of Estra Europe is an important step in Innerio’s growth strategy; the new company is a perfect fit for us,” says CEO Andreas Zwerger. “At the Kottingbrunn plant, we develop and produce complete heat exchangers, and the acquisition of Estra Europe will enable us to expand our programme to include complete cooling modules.”
“With the newly acquired engineering and production sites,” adds the press release, “Innerio is expanding its product and process expertise, increasing its production capacity and strengthening its market position.”
This article in French.