Help Desk -
9958816305, 9810335381

SITECH and Brose to set up Global System Supplier for Complete Seats

Auto News - Published on Tue, 14 Jul 2020

Image Source: Volkswagen SITECH Brose
Volkswagen AG and the automotive supplier Brose are planning to create a joint venture devoted to complete seats, seat structures and seat components. The Volkswagen subsidiary SITECH will become part of the joint venture. Brose will hold a 50 percent stake in the company. Volkswagen AG and the Brose Group will each own half of the company. Representatives of both companies signed a memorandum of understanding covering the joint venture today in Coburg.

Volkswagen and Brose will review the transaction as part of a due-diligence process and finalize the agreement negotiations over the next few months. The agreement is scheduled to be signed by the end of the year. An antitrust review will follow.


Source :

Posted By : Yogender Pancholi on Tue, 14 Jul 2020
Related News from Auto segment