Fras-le announced the pending acquisition on Dec. 1, 2011 and will assume control and management of Freios Controil effective Jan. 1, 2012. Both companies are located in Rio Grande do Sul, Brazil.
With the acquisition of Freios Controil, Fras-le says it has reinforced its strategic goal of sustainable growth as a global company with earnings in 2013 forecasted at $601 million. Daniel Raul Randon, Fras-le’s CEO and head of investor relations, says the acquisition fits with Fras-le’s desire to expand its brand presence inside and outside of Brazil. The transaction also will allow Fras-Le to smoothly integrate its distribution network with Freios Controil’s, the company says.
Randon says the new company helps Fras-le diversify its portfolio of products, currently composed of more than 9,000 items, including brake pads and lining sold in more than 80 countries. New items added to Fras-le’s product line include hydraulic cylinders, along with air filter hoses, intake manifold joints and a range of automotive rubber components that are part of the automotive polymers segment.
