ATC Drivetrain has launched a joint venture with Luwote (Zhangjiagang) Power Remanufacturing Technology in Zhangjiagang, China.
The joint venture will focus on providing a local solution for the remanufacturing of automotive engines and transmissions for ATC’s existing global customer base in China as well providing local automobile manufactures with remanufactured engines and transmissions in the China market.
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ATC is the majority partner in the JV with a 72.5% ownership stake and brings more than 80 years of remanufacturing experience as well as manufacturing processes and engineering knowledge to the joint venture. Luwote will own 27.5% of the JV and provides local market expertise.
“The teams at ATC and our private equity sponsor, Crestview Partners, have been focused on expanding our global presence and product offerings in support of our customers’ evolving needs,” said ATC president and CEO, Greg Heald.
“This joint venture in China is a move for us to ensure the worldwide support of our customers and continue to position us a global leader in the remanufacturing industry.”
