Düsseldorf (dpa / lnw) - Rheinmetall is increasingly turning away from the business with products related to the internal combustion engine. The armaments group and automotive supplier sells the production of large pistons, for which offers have been examined since the beginning of the year. The buyer is the Swedish group Koncentra Verkstads from Gothenburg, as Rheinmetall announced in Düsseldorf on Tuesday. Information on the purchase price was not given.
According to the announcement, the agreement covers the large piston division of the MDax group with three production plants in Germany, the USA and China as well as the steel piston line from the small piston plant in Marinette in the USA. The approval of the authorities is still pending. The transaction is expected to be completed by the end of the year.
The small and large pistons area falls under the non-core business of the Group's Materials and Trade segment, which accounted for a total of around 11.5 percent of the Düsseldorf-based company's sales last year.
