The shareholding proportion will be 60% for DTR and 40% for Magneti Marelli
DTR Corporation and Magneti Marelli S.p.A. have signed an agreement for the establishment of a Joint Venture aimed at the acquisition of CF Gomma, an Italian based automotive supplier active in the field of rubber products.
In particular, CF Gomma produces anti-vibration rubber products for vehicle and engine suspensions, air springs for the haulage and railways industries as well as rubber technical mouldings and compounds.
The agreement sets out the new shareholding structure of the company that will be 60% owned by DTR Corporation and 40% owned by Magneti Marelli.
DTR is a Korean company that has operated since the 1990s in the context of industrial rubber for the automotive industry. The company is strongly oriented to the quality of the product, with a focus on international expansion to better serve customers on a global scale.
In this respect, the activities of CF Gomma thus find a solid foundation for the relaunch and future development of its business, thanks to the direct involvement of a Korean majority shareholding partner, an industry leader from a technological perspective. Magneti Marelli will be working alongside DTR in the company with the intention of promoting the development of business in Europe and South America.
The Joint Venture involving the acquisition of CF Gomma will supply the main carmakers on an international scale.
Milan-Italy, Jinju-Korea – June 20th 2014