Valmet Automotive said it had strengthened its existing partnership with RLE International by selling 100% shares of its wholly owned China subsidiary, Valmet Automotive (China) to RLE Global Operations, a joint venture of the parties registered in England & Wales.
As part of the agreement, Valmet Automotive acquires a minority stake in RLE Global Operations. Valmet China, located in Shanghai, provides automotive design services, and specialises in sourcing, import and export of auto components.
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“Through this strengthened partnership, the parties expand their position in the automotive design and auto component manufacturing markets,” they said in a statement.
Mercedes A-class output at Valmet soars in 2014
