PHINIA To Buy Stoba Group
(RTTNews) - PHINIA Inc. (PHIN), a provider of fuel systems, electrical systems, and aftermarket solutions, said on Tuesday that it has inked a deal to buy stoba Group, a German specialist in high-precision components, systems, and customized manufacturing solutions.
Brady Ericson, CEO of PHINIA, said: "The stoba Group is a well-established supplier within PHINIA's ecosystem, and the acquisition marks an important step in enhancing PHINIA's supply chain resilience and product portfolio. The stoba Group brings to PHINIA high-precision engineering and advanced manufacturing expertise."
The proposed transaction, expected to close in the fourth quarter of 2026, is anticipated to be funded through cash on hand.
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