As part of the transaction, Knorr-Bremse acquired Honeywell’s minority interest in Knorr-Bremse Systeme für Nutzfahrzeuge GmbH of Munich and Knorr-Bremse Sistemas Para Veículos Comerciasis Brasil Ltda of São Paulo, Brazil.
The deal has passed review by U.S. regulatory authorities. Honeywell's board of directors and the supervisory board of Knorr-Bremse gave approval for the transaction late last year.
Knorr-Bremse is a privately owned German firm that is a market leader in braking systems for both railways and commercial vehicles. Bendix Commercial Vehicle Systems LLC had been operating as a joint venture between Honeywell and Knorr-Bremse AG since 1993. The Bendix brand name will remain intact.
There is no anticipated change to the local business leadership or operations as a result of the ownership transition. Bendix, while fully integrated as a member of the Knorr-Bremse Group, will continue to conduct business operations as usual.
