Goodyear air bags become American again

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Transport Topics / June 3, 2015

Trucking supplier Stemco is acquiring Continental AG’s Veyance-North America air springs business in North America in an effort to expand in that market.

Stemco, a subsidiary of EnPro Industries, in Charlotte, North Carolina, didn’t disclose terms.

Veyance makes air springs with the Goodyear brand name and was acquired by Continental from Carlyle Group in January as part of a $1.8 billion deal.

“The air springs business carries with it premium product performance,” Stemco President Todd Anderson said in a statement. “Their record of success and growth potential make this an exciting addition to our business.”

Ohio-based Goodyear spun off Veyance in 2007.

Veyance’s North American business is part of German-based Continental’s ContiTech unit.

The U.S. Justice Department last year imposed a requirement that the air springs unit be sold in order to preserve competition in that sector. After agreeing to that step, the Veyance sale was completed.

Continental’s statement said Veyance’s North American unit includes 500 workers at a plant in Mexico and 30 at its Ohio headquarters.

Stemco, which also makes seals, bearings and other wheel end products, expanded earlier this year by acquiring ATDynamics, which makes aerodynamic equipment for trailers.

EnPro Industries said the transaction was subject to regulatory approvals.

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STEMCO Acquires Goodyear Air Springs Business

Trailer/Body Builders / July 1, 2015

Stemco, an EnPro Industries company, has acquired the manufacturer of Goodyear air springs, as well as Super Cushion and Spring Ride air springs, from ContiTech, a division of Continental Corporation.

This business unit was part of the business called Veyance that was recently acquired by Continental.

With the acquisition, STEMCO acquires the Super Cushion and Spring Ride lines of truck, trailer and truck cab suspension products, as well as cab seat springs.

Also included in the acquisition are the Veyance manufacturing facility in San Luis Potosi, Mexico, the Veyance research and development operations in Fairlawn, Ohio, and all NAFTA related patents and applications.

"The Goodyear air springs business carries with it a strong brand presence and premium product performance," said Todd Anderson, STEMCO president. "Customers will be able to count on the same consistent product performance and brand attributes, as the products will continue to be manufactured in the same facility and engineered by the same design team with the same support functions, in addition to gaining the support of the entire STEMCO team."

He added, "We are looking forward to the air springs team joining the STEMCO family. Their record of success and growth potential make this an exciting addition to our business. STEMCO's commercial vehicle market focus, superior product technology and outstanding reputation for training and customer support make this acquisition a complement to the STEMCO business strategy."

Air spring products are available now through the existing distributor network. For more information on the new STEMCO product lines, visit www.stemcoairsprings.com.