Brose and Volkswagen AG sign joint venture agreement
- The partners want to establish a key global system supplier for vehicle seats and
- interior concepts
- Expansion of business with the Volkswagen Group and other automakers planned
- Brose and Volkswagen subsidiary SITECH have complementary portfolios and expertise
- The joint venture’s business is expected to double by the end of the decade compared to SITECH’s current sales, and the workforce is expected to grow by a third during the same period
The parent company of the new joint venture will continue to operate from its headquarters in the Polish town of Polkowice. In addition to existing development and production sites in Eastern Europe, Germany and China, plans are underway to expand activities in Europe, America and Asia. Both companies will be represented equally on the board, with Brose providing the Chief Executive Officer and the Chief Technology Officer. Volkswagen AG will appoint the Chief Financial Officer and will also be responsible for production.
Flexible and personalized design options in the vehicle interior
Brose and SITECH are bundling their expertise in the new company and preparing for future developments in the market for vehicle seats and interior solutions. Current trends such as e-mobility, cross-system connectivity and autonomous driving are changing the requirements for tomorrow’s interiors. The vehicle interior is developing into a mobile living space that blends conventional demands on comfort and safety with new, flexible and personalized design options.
The envisaged joint venture will build on the strengths and successes of Brose and SITECH. Over the long term, the joint venture is expected to establish a firm foothold as one of the industry’s top 3 players. The joint venture can offer its customers all key products across the entire value chain. Brose and SITECH’s portfolios complement each other perfectly. As a leading supplier of seat structures, Brose is bringing its systems knowledge and years of expertise in manual and power adjusters as well as comfort components to the table. The automotive supplier also uses software and sensorics to connect its mechatronic components. This creates intelligent concepts for the vehicle interior. SITECH has comprehensive expertise in development, assembly and logistics for complete seat systems and metal structures.
The establishment of the joint venture is still pending standard closing conditions and antitrust law approvals, which should be completed by the end of the year.
Brose Fahrzeugteile SE & Co. KG, Coburg
Kierownik ds. Komunikacji zewnętrznej
Telefon +49 9561 21 3430
Volkswagen Group Components
Kierownik ds. Komunikacji
Telefon +49 5361 9 76854
SITECH Sp. z o.o.
Telefon +48 795 160 922
Image selection (source: Volkswagen)
From left to right: Ulrich Schrickel, Chief Executive Officer of the Brose Group, Michael Stoschek, Chairman of the Brose Group, Dr. Herbert Diess, Chairman of the Board of Management of Volkswagen AG, Thomas Schmall, Member of the Board of Management Volkswagen AG, Technology, CEO of Volkswagen Group Components, in the back - from left to right: Tomasz Lewandowski, Chief Executive Officer of SITECH Sp. z o.o., Thomas Spangler, Executive Vice President Operations of the Brose Group, Ingo Fleischer Managing Director, Chairman of SITECH Sitztechnik GmbH, Andreas Jagl, Executive Vice President Interior of the Brose Group
About the SITECH Group
Over 5,200 employees at six production facilities in Germany, Poland and China manufacture complete seat sets (car sets) and seat structure components. Seats and components are delivered directly to production lines.
In addition, more than 200 engineers work on developing new products. They cover the entire development spectrum: from advanced development to prototype construction to series production support. SITECH Sitztechnik GmbH is a subsidiary of Volkswagen AG. Visit our website for more information: https://www.sitech-sitztechnik.de.
Brose is the world’s fourth-largest family-owned automotive supplier. The company develops and produces mechatronic systems for vehicle doors and seats as well as electric motors, drives and electronics for steering, brakes, transmissions and engine cooling. Around 25,000 employees at 65 locations in 24 countries generated turnover of 5.1 billion euros in 2020.
About 8,000 employees at 24 locations in 12 countries develop, produce and market seat structures and components worldwide. The Interior business division employs 650 engineers and technicians in Europe, the US and China, who work on seat systems and adjusters for the vehicle interior. Customers include over 50 car manufacturers. Visit our website for more information: brose.com.