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OBERUESEL, Germany, August 10, 2018/PRNewswire/ --
- Acquisition will assert HORIBA's position as a leading solutions provider in the development of battery and fuel cell systems for electrified vehicle
- Allows FuelCon to access HORIBA's global network and provide validation solutions for increasingly complex vehicle test requirements
HORIBA Europe GmbH has today announced that it has agreed terms for the acquisition of FuelCon AG ("FuelCon"). FuelCon will become part of HORIBA Automotive Test Systems - a leading supplier in the fields of engine, driveline, brake and emissions test systems. The completion of the transaction is subject to regulatory clearance.
Founded in 2001 and based in Magdeburg-Barleben, Germany, FuelCon is a leading manufacturer and supplier of R&D and EOL (end of line) test beds and turnkey solutions for the E-Mobility sector, with expertise in battery and fuel cell applications.
FuelCon has an enviable reputation for design and manufacture of precision high performance solutions and is trusted for its deep technical know-how by global OEMs and Tier 1s as well as international research laboratories. Through joining the HORIBA group of companies, FuelCon will be able to respond to the growing need for increasingly complex development and validation solutions and harness HORIBA's extensive international network.
This acquisition represents a strategic move from the HORIBA group to increase its presence in the vehicle electrification market. The purchase will enable HORIBA to provide a comprehensive suite of test and development solutions across battery and fuel cell lifecycles. This will enable HORIBA to increase its access to the growing global market requirement for E-Mobility solutions and capitalise on the growing demand for validation technologies.
Dr George Gillespie, Executive Vice President, HORIBA Automotive Test Systems said: "In line with global megatrends, we are witnessing the continued electrification of transport with a mix of pure EV and complex hybrid solutions. With this in mind, HORIBA needed to find a suitable industry leader who offered a range of technical solutions that complement our existing automotive test systems business and our position of global leadership in emissions measurement. In FuelCon we have found the perfect partner."
Mathias Bode, Managing Director, FuelCon commented: "Over the past 18 years, FuelCon has become a leader in battery and fuel cell validation solutions. With increasing number of challenging requests, we need to provide solutions that meet complex validation needs across the globe. With HORIBA we have found a partner who will give us that international reach and with their track record in the manufacture of complex test and measurement solutions, they understand our need to continue to be able to respond promptly to complex customer demands."
Robert Plank, COO, HORIBA Europe GmbH said: "We regard FuelCon as the perfect fit for our strategic ambitions. With their range of products and their applications expertise, we see a great future ahead of us. We will now be able to offer an increasingly comprehensive suite of test and validation solutions for a full range of automotive propulsion technologies moving from combustion engines to electrified powertrains. By bringing FuelCon into the HORIBA group of companies and developing their Magdeburg facility as our global centre of competence for fuel cell and battery test systems, we take another step in future-proofing our automotive business and achieving our aim of becoming the number one partner for validating vehicle efficiency and performance."