Breed buys UTA's steering wheel business

Continuing its aggressive growth, Breed Technologies has agreed to buy United Technologies Automotive's steering wheel operations. While the price was not disclosed initially, the deal is expected to close in late October or early November. It is Breed's fifth acquisition this year. Strategically, it will allow the Lakeland, FL-based supplier to integrate driver's side air bags into the steering wheel. Breed gets plants in Grabill, IN; Monterey, Mexico; Birmingham, U.K., and a Korean joint venture and about 1,000 employees. UTA is pruning its product portfolio to the core businesses on which it will concentrate: wiring harnesses, electrical switches and motors, instrument panels, headliners, mirrors and interior door panels (see Auto Talk, p.29).