Bendix to buy out Renault
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ALLIED AUTOMOTIVE, the American parent group of the Bristol-based air brake equipment manufacturer, Bendix, is set to become 100 per cent owner of Renix Electronique, a leading French manufacturer of automotive electronic systems.
At present 51 per cent of Renix is owned by Renault, while Allied holds 49 per cent.
The boards of directors of both companies and the French Government have to give final approval before the deal can be completed, but this is expected before the end of this month.
Renix will then become part of the Bendix Electronics and Engine Controls division, which already has plants in France, USA, Canada and Brazil.