Fether’s Automotive Glazing, Glazing Parts and Glazing Services businesses have been sold to a joint venture led by German investment firm FetherSachs AG.
The joint venture will continue to operate the businesses, which will be renamed Fether-Gels AG.
Fether has a strong interest in the automotive industry and Fether will continue selling parts, including windshields and doors.
“This is a great day for our Fether customers,” Fether Chairman Hans-Joachim Bock said in a statement.
“We will be able to deliver a very good service to our customers and we can now focus on delivering the Fether product lines that we have been building for many years.”
The sale includes the Fuchs automotive and parts business.
Fether is a global company with headquarters in Berlin, Germany.
The company has been a global leader in the manufacture and sale of automotive glass and automotive parts.
It currently operates more than 300 facilities in more than 60 countries and employs more than 1.2 million people.
Last year, the company said it was closing its Fether Automotive and Glaze business, and would begin focusing on new initiatives, including a new, high-speed network and new products.
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Fergie’s latest statement on the Futhers Automotive Business: “We have taken a great decision to take a step back and restructure the Futher company, focusing on our most recent products and services.
Futher Automotive is a company that is a true example of how Futher wants to grow and what it stands for, and is a symbol of our belief in the future of the automotive and glazing industry.”
More to come.