Gasket supplier Corteco has broadened its offering of aftermarket products with the acquisition of the Omega power steering hose and rebuild kit business in Solon, Ohio from Federal-Mogul. Terms of the agreements were not disclosed.
"This targeted acquisition further expands our already significant product offerings for Corteco’s targeted customer base in the traditional aftermarket," said Phillip A. Damaska, president of Corteco, the aftermarket business of Freudenberg-NOK. "Our short-term plan is to expand the hose line offering to an industry leading position allowing the Omega brand of hoses to regain its historically strong position."
Distribution will be relocated to Corteco’s Milan, Ohio facility, allowing customers to receive all products from one location.
Hose production will be moved from the current facility in Solon, Ohio to a separate facility in the same general location to retain the experienced workforce.
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