Concentric acquired by Haldex

Haldex, a Swedish automotive technology group, has acquired Birmingham-based Concentric, a manufacturer of oil, fuel and water pumps for medium and heavy diesel engines.

The acquisition is subject to regulatory approval in Germany and is expected to be complete by the end of the first quarter of 2008. Terms of the deal have not been released.

Concentric, which has factories in the UK, USA, India and China, will join Haldex's Hydraulic Systems Division and its chief executive Ian Dugan will take over as head of the enlarged division.

‘In terms of brands and market position, both Haldex and Concentric embody similar core values of quality and technological innovation,’ said Dugan. ‘Moreover, the two businesses are complementary in terms of product, with Haldex specialising in hydraulic pumps and Concentric in engine pumps, which means increased potential for both.’