Marzocchi set to be taken over by US auto group
The American automotive group Tenneco Inc. has entered into a preliminary agreement to purchase the suspension business of Gruppo Marzocchi, the Italian-based supplier of mountain bike and motorbike suspension technology.
The agreement is the initial step in the purchase process which will only be finalised if a number of conditions are met and after the legally-required consultation with the works councils representing Marzocchi employees.
The potential acquisition would be made through Tenneco taking on Marzocchi’s suspension business debt, which is calculated at $15 million.
Tenneco say the acquisition would allow them to maximise the benefits of the brand, technology and product synergies of the two companies, providing customers with integrated suspension systems (forks, shock absorbers and elastomers) for motorcycles and other applications.
Tenneco is a $6.2 billion global manufacturing company with headquarters in Illinois and markets its products principally under the Monroe, Walker, Gillet and Clevite Elastomer brand names.