BERLIN (AP) -- German auto parts supplier Webasto says it has bought bankrupt competitor Karmann's U.S. and Mexico business producing roof systems for convertibles.
The family-owned company said Thursday that the business has total annual revenues of some $40 million and 150 employees.
Webasto and Karmann's bankruptcy administrator Ottmar Hermann did not disclose the price of the transaction, finalized Wednesday.
The company said Karmann's operations in Plymouth, Michigan, and Puebla, Mexico, will be managed by its North American affiliates, Webasto-Edscha Cabrio USA and Webasto-Edscha Cabrio Mexico.
Webasto, based in Stockdorf, Germany, makes products that include car roof systems and heating devices.
