Another important strategic acquisition in the rail vehicle systems sector for Knorr-Bremse

Knorr-Bremse subsidiary Microelettrica Scientifica S.p.A. of Italy acquired Heine Resistors GmbH based in Dresden, Germany, a manufacturer of special-purpose resistors. For the Italian member of the Knorr-Bremse Group this was the third substantial acquisition in the last two years, following the takeovers of EMC Traction S.r.l. and Officine De Zan S.r.l. in 2009. The acquisition forms a part of Knorr-Bremse's long-term strategy to expand the company's position in a number of areas through targeted M&A activities “like a string of pearls”.

The company that completed the acquisition, Microelettrica Scientifica S.p.A., based in Rozzano, Milan, has been a member of the Knorr-Bremse Group since 2005. For over 50 years now, Microelettrica Scientifica has been designing, developing and producing contactors, switches, protection relays and resistors for railway and industrial applications. The company's acquisition of Heine shows great potential in the resistors segment in particular, as in this market segment outstanding industrial synergies will result for both companies.

With sales of around EUR 10 million in 2009, Heine ranks among the most renowned developers and manufacturers of resistors for drive technology and rail vehicles. The main products include band, compact, frame, tube and steel grid resistors. Band resistors are Heine's main product and a field of business in which the company has also posted strong growth over recent years. Rail vehicles need braking resistors to stop, if the excess energy cannot be fed back into the electricity grid.

Heine is based in Dresden, the capital city of the German federal state of Saxony, where it currently employs some 60 people. Since the end of 2005, Heine has also been represented in the Asian region by a wholly-owned subsidiary, HEINE Resistors (Suzhou) Co, Ltd. China. In the international marketplace Microelettrica and Heine complement one another very well: while Microelettrica has a special focus on Sweden, Italy and Japan, Heine has a particularly strong customer base in Germany. By leaving key management positions unchanged, the company will ensure that Heine's expertise remains at its disposal for years to come.
 

Source: Transportweekly