Motrex EFM Completes Acquisition of Dual, Accelerates Global Automotive Interior Materials Expansion

Motrex EFM, the automotive interior materials business platform of the Motrex Group, has completed its acquisition of Dual, a leading company specializing in automotive interior materials, and is now set to accelerate its global market expansion. The strategy is to strengthen its competitiveness in the automotive interior materials business by combining the product lines and overseas networks of both companies.

Motrex EFM announced on the 3rd that it had completed the remaining payment and closing procedures on July 31 for the share purchase agreement (SPA) signed with Dual in April. As a result, Dual has been incorporated as a core affiliate of Motrex Group's automotive interior materials business.

Through this acquisition, Motrex EFM has added Dual’s fabrics, seat covering, and airbag cushion business to its existing automotive flooring and noise·vibration reduction (NVH) components, establishing a comprehensive portfolio of interior materials that covers the entire vehicle interior. In addition, the company has laid the groundwork to expand from a domestically focused business to a global customer base and overseas manufacturing sites.

Motrex EFM primarily manufactures floor carpets, automotive flooring, and NVH components, having secured productivity and quality competitiveness in the Korean market. Last year, the company posted sales of 159.7 billion won.

Dual, specializing in automotive fabrics, seat covering, and airbag cushions, counts major domestic and international finished car manufacturers among its clients. Last year, its consolidated sales reached 796.1 billion won.

In particular, since acquiring Swedish automotive seat fabric company Borgstena in 2017, Dual has expanded its global business base focusing on Europe. It now counts European automakers such as Volvo and Volkswagen among its clients, and has established manufacturing and sales networks across Europe, Asia, and the Americas.

With the acquisition process complete, the two companies plan to first prioritize joint bids for contracts. Furthermore, they intend to strengthen collaboration in multiple areas, including raw material procurement, operation of production sites, research and development (R&D), and quality management.

Additionally, leveraging Dual’s overseas sales network and customer-responsive organization, they will pursue a bidding strategy that proposes diverse interior material products as packages from the early stages of new vehicle development with automakers, and gradually establish a global supply system tailored to regional customer demand.

Motrex EFM also intends to respond proactively to changes in the automotive industry. With the rise of autonomous vehicles and purpose-built vehicles (PBVs), the importance of interior space is increasing, resulting in greater demand for lightweight, eco-friendly materials, noise reduction, and functional fabrics. The company plans to boost its competitiveness by combining the production capabilities of both companies. In the long run, it also aims to expand into In-Cabin solutions linked to Motrex Group’s automotive electronics technology.

A Motrex EFM representative stated, "By adding Dual’s global customer base and overseas manufacturing network to our production and quality competitiveness, we expect to create a synergy effect. Building on this acquisition, we will expand our proven interior materials capabilities from Korea to overseas markets and grow into a global automotive interior materials specialist through joint bidding and cross-supply of products."

This acquisition of Dual is expected to serve as a catalyst for Motrex EFM to secure both a diverse product portfolio and a global customer base, thus accelerating the overseas expansion of its automotive interior materials business.

This content was produced with the assistance of AI translation services.