Chinese companies continue to acquire overseas auto parts companies

China Business Times reported on July 22 that following the acquisition of German Preh and Sa Guami, the German auto parts manufacturer Ke Shiman was recently taken over by China auto parts company CITIC Dica.

A source close to Kayman Company stated that the transaction amounted to around 300 million euros. Kasman Corporation employs 2,700 people, mainly manufacturing automotive engine and transmission-related components, and is an important supplier to Volkswagen AG and Daimler AG.

It is reported that CITIC Decker Wheels Manufacturing Co., Ltd. has been the world's largest aluminum wheel manufacturer for 3 consecutive years. In 2010, CITIC Decker Wheels Manufacturing Co., Ltd. sold 20.68 million aluminum wheels throughout the year, an increase of 56% year-on-year and a net profit of RMB 120 million. , an increase of 24.6% year-on-year, more than 50% of its products are exported to the international market, internationally for the United States General Motors, Ford, Chrysler, Germany Audi, Volkswagen, Mercedes-Benz, BMW, Japan Honda, Toyota and other famous automobile plants, in the domestic market for Chery, BYD, Geely and other car manufacturers supporting.

Prior to CITIC, two Chinese companies had completed the acquisition of German auto parts makers. Chongqing Light Textile Holdings (Group) Co., Ltd. acquired Sagami Group in Germany, and China Junsheng Investment Group Co., Ltd. acquired the German company. Ray shares a majority of shares. The multiple acquisitions demonstrated the Chinese government’s determination to promote the development of strategic industries such as automobile manufacturing and machinery manufacturing. According to public information, Chinese companies have acquired 34 companies in Western Europe this year, and the total transaction volume has reached US$7.74 billion, which is five times that of the same period of last year.