The Airtanks business unit will be organized within the Gnotec group as a separate division and will be headed by Johan Westberg, reporting to the CEO of Gnotec Group.

The enhanced Gnotec Group will strengthen its specialized position in stamping, welding, surface treatment and assembly of high quality and safety metal products to a wide range of customers in the Automotive and Commercial Vehicle Industry. The group revenue will reach close to 250 M€ with over 1500 skilled employees located in China, Europe and USA.

The cooperation and synergies will be in the area of customer support, product and process development, competence development, foot print and sourcing.

Martin Sailer, Member of the Frauenthal Holding AG Executive Board, responsible for Frauenthal Automotive:

“The two business units have independently developed greatly and they are now in a position where their respective strengths give opportunities to develop even stronger as a group“.

Jörgen Oldenstedt, President and CEO of Gnotec Group:

“The joined forces will greatly strengthen both companies and will increase our competitiveness by improving our possibilities to support our global customers“.