Arnhem, June 29th 2020. Today, after an in-depth strategic assessment, TB&C announced that it will strengthen its focus on its core automotive and medical business in Europe and North America, which represents over 90 percent of the Group’s turnover, and to divest its TB&C (Suzhou) Precision Parts Co. Ltd in China to Pollmann Mechatronics (Kunshan) Co Ltd. In recent years TB&C (Suzhou) Precision Parts China has developed into a well-established producer of high quality sunroofs mechanism for the Chinese market with around 50 employees.
The decision to divest TB&C (Suzhou) Precision Parts has been taken in the light of rapidly changing markets. The strong demand for hybrid-busbar applications for electrical cars combined with new technologies for sunroof applications as well as changes in automated production methods have provided TB&C with new, exciting opportunities in Europe and North America. This requires however an active focus on the core business combined with substantial investments.
Derk te Bokkel, Chairman of TB&C, says: “It is part of our culture to consistently enhance our performance and improve our portfolio and business processes. This enables us to develop and produce tailored solutions for our customers and to be successful in an intensely competitive environment. Pollmann China is a solid partner for this transaction and well equipped to take over our much respected Chinese production plant.”
In the coming period, both companies will work to prepare a smooth transition. The sale is subject to the approval of the regulatory authorities and is expected to be completed in the 3rd quarter of 2020.