Within its business plan for expansion, Fras-le has signed on this date an agreement to buy all the shares of the company Jofund S.A, holder of the FREMAX brand. Following the acquisition procedures and after meeting all preceding conditions, Fras-le will add 2,500 part numbers to its already-diversified portfolio, thus ensuring its leading position in the friction material market in Brazil and strengthening its product portfolio for global supply. The completion of the transaction is subject to the prior approval by competition agencies and to the prior approval of Fras-le`s shareholders at the Extraordinary General Meeting to be scheduled.
Based in Joinville, Santa Catarina State, the company has warehouses in Argentina and Europe, has 580 employees and its revenues in 2017 amounted to R$ 188 million.
"This acquisition provides us with favorable conditions to move forward on our path of growth," said Sérgio L. de Carvalho, CEO of Fras-le, noting that "the synergy between the business of brakes discs and pads is significant, which will allow us to expand the supply of products and better serve the market needs”.
In 2017, Fras-le had one of the greatest periods of expansion, notably in the international market: it was a period of important acquisitions and associations involving three companies in Argentina and Uruguay. In India, ASK Fras-le Friction was created to supply the markets of India, Bangladesh, Nepal and Sri Lanka. It has also doubled the industrial unit of China and opened a sales office and a warehouse in Colombia. At the same time, Fras-le took over the control of Jurid do Brasil, In Sorocaba (SP), which is focused on the manufacturing and distribution of Premium brake products for light vehicles.
