Webasto Takes Over Diavia Cooling System Business For Off-highway and Special Applications From Delphi

STOCKDORF, Germany -- March, 16: Webasto, Germany based automotive supplier, announced the signature of a share purchase agreement to buy from Delphi Italia Automotive Systems its Diavia cooling system business for off-highway and special applications.

"This acquisition helps us to expand our product and regional footprint for cooling systems for special and off-road vehicles”, explains Dr. Joachim Damasky, Member of the Management Board at Webasto AG and President of the Business Division Thermo systems. "It brings us an important step closer to our goal of becoming a leading system supplier for heating and cooling products from one source in the off-highway and special vehicle market”.

The sale will be effective on the closing date, which will occur when regulatory approvals have been obtained.

About Webasto: The Webasto Group, based in Stockdorf (near Munich), has been a family-owned business ever since the company was founded in 1901. Internationally, the group has more than 50 locations (including over 30 production plants) dedicated to the Roof and Heating Systems business sectors. Webasto is one of the top 100 automotive suppliers worldwide. For 2011, the group is expecting a sales volume of 2.3 billion Euros, employing over 9500 people. The company's core competencies include the development, production and sales of complete roof and convertible roof systems, as well as heating, cooling and ventilation systems for passenger cars, recreational vehicles, boats as well as commercial and special-purpose vehicles.