Feroda acquires German manufacturer
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BERAL, the West German manufacturer of friction materials, has been taken over by the British Turner and Newall group, which has Ferodo and Duron among its subsidiaries.
This makes Turner and Newall one of Europe's three biggest brake and clutch lining material suppliers, the other two being British Belting and Asbestos (BBA) which owns Mintcx and Don; and the French Valco group.
Hitherto, Beral was privately owned by the Berges family. It ran into financial trouble following the failure last year of a new South African factory. A receiver was called in to the company's head office at Marienhcide, West Germany, in January.
It is believed that ITT, the American multi-national corporation and PRW, the West German axle manufacturer which is one of Bcral's major customers, were among those interested in buying the company. But it was Turner and Newall whose bid was successful. The amount paid for the company has not been disclosed.
With effect from June 1, BIP Plastics (Europa), Turner and Newall's German subsidiary, has taken over Beral's assets but the company's liabilities have not been transferred. Volker Grossmann from BIP plastics has taken over as managing director.
Turner and Newall believes the Beral range will complement its Ferodo and Duron products. All three trade names will continue and the company says it has no plans to rationalise production and reduce staff numbers.