Autoneum sells Italian subsidiary

Autoneum has sold its Autoneum Italy subsidiary to the German industrial holding company Mutares for an undisclosed transaction price.

Switzerland-based Autoneum said the sale is a key strategic step toward adjusting capacity in Europe to business expectations and ensuring the long-term economic success in the challenging European market.

By selling its Italian subsidiary, Autoneum has reduced its capacity by four to a total of 15 production sites in Western Europe, while focusing on its core competences of acoustic and thermal management for light vehicle manufacturers.

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