Autoneum

History

Autoneum's business begins as Unikeller AG, a Swiss company that specialized in noise control and thermal insulation systems for automotive vehicles. In 1984, Unikeller AG is acquired by Rieter Holding (Autoneum's parent company until giving effect to the separation in 2011). Unikeller AG and Firth Furnishing Ltd., a UK maker of carpeting for automotive vehicles that was acquired by Rieter Holding in 1994, together form the basis of Rieter Holding's automotive division, which is referred to as "Rieter Automotive Systems". Rieter Automotive Systems is to grow subsequently through a series of acquisitions as well as organic growth.

In 1986, a subsidiary of Globe Industries forms a joint venture with Nihon Tokushu Toryo Co., Ltd. (Nittoku), a Japanese manufacturing company specializing in, among other things, automotive soundproof materials. The new joint venture is named UGN and its purpose is to manufacture and sell products to Japanese headquartered OEMs in the United States and Canada. As a result of its acquisition of Globe Industries, Rieter Automotive Systems enters into its first joint venture with Nittoku by stepping in as Nittoku's new partner in the UGN joint venture. Prior to this acquisition, Rieter Automotive Systems has only worked with Nittoku through license agreements.

In 1995, it expands its operations into the U.S. by acquiring Globe Acquisition Corporation, Inc., a Delaware corporation that manufactures components for automotive vehicles (Globe Industries). Unikeller division is renamed Rieter Automotive Systems.

In 1996, Rieter Automotive Systems bolsters its European presence through its acquisition of Fimit S.p.A., an Italian manufacturer of components for automotive vehicles.

In 1997, Rieter Automotive Systems further expands its U.S. operations by establishing a joint venture with Magee Industrial Enterprise Inc., a Pennsylvania company to manufacture carpeting for automotive vehicles. This joint venture later, in 2005, becomes the wholly owned subsidiary of Rieter Automotive North America. In the same year, it also acquires Ello Ltda., a Brazilian manufacturer of components for motor vehicles.

As the UGN joint venture with Nittoku proves to be very stable, reliable and successful, Rieter Automotive Systems begins pushing for further expansion of its global footprint and enters the Chinese market by forming another joint venture with Nittoku in 2003. Its purpose is to manufacture and sell products to Japanese headquartered OEMs in China. Subsequently, Rieter Automotive Systems and Nittoku expand their partnership to include joint ventures for purposes of serving Japanese headquartered OEMs in all other Asian markets (with the exception of Japan, which is addressed exclusively by Nittoku). In 2003, Rieter Automotive Systems increases its share in Saifa-Keller S.A. (since renamed Rieter Saifa S.A. and later to Autoneum Spain S.A.U.), a Spanish company that manufactures noise control and thermal insulation components, to 50%. In 2006 Rieter Automotive Systems acquires the company completely by increasing its 50% share to 100%.

In response to the growth in Asian markets (excluding Japan), Rieter Automotive Systems expands into the Indian market in 2006 through its acquisition of control of Unikeller India Private Ltd. (since then renamed to Rieter Automotive India) of which Rieter Automotive Systems has held a 35% minority share already prior to the acquisition. Unikeller India Private Ltd. manufactures damping and felt products for OEMs in India. Since then, Rieter Automotive Systems and later Autoneum has further expanded operations in emerging markets by opening numerous manufacturing facilities in Asia, Africa and Latin America (some of which are operated through Autoneum controlled joint ventures).

In 2008, Rieter Automotive Systems opens a Development and Acoustic Center in Shanghai, China, for purposes of supplying both Chinese-headquartered OEMs and other global OEMs throughout Asia (excluding Japan).

At the Annual General Meeting 2011 on April 13, 2011, the shareholders of Rieter Holding approve the Board’s intention to separate Rieter Holding’s Textile Systems and Automotive Systems divisions into two distinct listed companies with independent ownership and management.

Since May 13, 2011, the former Rieter division Automotive Systems is listed at SIX Swiss Exchange as an independent company named Autoneum.

In 2012, Autoneum, Nittoku (Nihon Tokushu Toryo Co.; Tokyo, Japan) and Toyota Boshoku Corporation (Kariya, Japan) sign Memorandum of Understanding and agree to collaborate in developing interior systems for hybrid vehicles.