Bietigheim-Bissingen (Germany), Cleveland, Ohio (USA), 6 April 2023
Founded about 40 years ago, Arrowhead has consistently grown its market share as well as its capabilities in core metal insert production and supply. Manufacturing both lanced and stamped core metal inserts, as well as solid core inserts, Arrowhead today is the leader in the automotive weather-seal market in North America.
Ali Yildirim, CEO of BFC Group, commented on the transaction: 'We have generated very good growth in the NAFTA region in recent years and this transaction will further expand our business in North America. We welcome our new colleagues to Arrowhead. Both companies share the same vision and together we will be an even better partner for our customers.'
The new group will be headquartered in Germany and have 10 production sites in five countries China, Germany, Mexico, Turkey and the US and more than 200 employees.
Alec Scovil, Arrowhead’s previous CEO, added: 'We believe that this merger will increase our ability to drive value for customers by offering economies of scale, global sourcing options, and most importantly driving innovation through technological advancements stemming from two of the most respected engineering teams in the market.'