“The acquisition of additional composite spring technology will enhance Hendrickson’s product portfolio,” Gary Gerstenlager, president and chief executive of Hendrickson International, said in a release Tuesday. “As we look to future green-house gas reduction regulations, composite springs offer a lighter weight product that will increase hauling capacity and improve fuel economy.”
Liteflex, with operations in Dayton and Englewood, makes relatively light composite-material leaf springs for the passenger vehicle market, as well as the light-duty and heavy-duty commercial vehicle markets.
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“Liteflex is an industry leader and we are happy to have them as part of the Hendrickson organization. Hendrickson has deep roots in Ohio with the trailer division headquarters and our newest manufacturing plant in the Canton, Ohio area.” Gerstenslager also said.
Terms of the acquisition have not been released.
The acquisition includes intellectual property and manufacturing equipment in Dayton, as well as nearly 80 workers that will become Hendrickson employees. Liteflex will keep its name and will operate as a division of Hendrickson, the latter company said.
A message was left with a Hendrickson representative Tuesday morning.
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In response to questions from this news outlet earlier this month, Liteflex President John Prikkel said Hendrickson bought the entire Liteflex company, including manufacturing operations on Holiday Drive in Englewood and Maywood Avenue in Dayton.
“They’re going to remain in Dayton, yes,” Prikkel told the Dayton Daily News at the time. “I’ve probably told you too much.
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This news outlet was also first to report that limited liability companies with apparent ties to Hendrickson purchased buildings and land in West Dayton for a total of more than $1.7 million, an unusually large investment for that section of the city — a first clue to Hendrickson’s interest in Liteflex.
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