Knorr-Bremse takes over Bendix

Jan. 24, 2002
Germany's Knorr-Bremse AG announced today that it has assumed operational control of Bendix Commercial Vehicle Systems LLC from Honeywell International Inc. 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
Germany's Knorr-Bremse AG announced today that it has assumed operational control of Bendix Commercial Vehicle Systems LLC from Honeywell International Inc.

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.

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Tim Parry

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