German automotive parts supplier Preh and China's private automotive product supplier Ningbo Junsheng Group reached an agreement, the company's 74.9% stake will be acquired by the Chinese side, and thus all wins will become the company's new owner. Punching Needle Mold,Punching Needle Hardware Mold,Centerless Grinding For Parts Processing,Centerless Grinding Of Precision Parts DONGGUAN YUSHUN PRECISION MOULD CO.LTD , https://www.yushunmolds.com
Preh is a Bavarian-based automotive parts supplier with 2,500 employees and annual sales of 351 million euros. The report said that the acquisition underscores that Chinese auto parts makers are actively looking for M&A opportunities in Europe to obtain foreign manufacturers' technology and accelerate the development of the European automotive market. The report also stated that the Chinese government encourages private enterprises to conduct such transactions in order to avoid overseas resistance to Chinese state-owned enterprise acquisitions.
October 28, 2023