View all newsletters
Receive our newsletter - data, insights and analysis delivered to you
  1. News
August 21, 2015

CHINA: Kiekert acquires full ownership of Henan North Xingguang

Kiekert has expanded its presence in China by acquiring full ownership of Henan North Xingguang Locking Systems, a manufacturer of door, hood and trunk locking systems in which Kiekert has held a minority interest since 2005.

Kiekert has expanded its presence in China by acquiring full ownership of Henan North Xingguang Locking Systems, a manufacturer of door, hood and trunk locking systems in which Kiekert has held a minority interest since 2005.

Henan North Xingguang has a 140,000 square metres production facility in Zhengzhou in the Chinese province of Henan and will operate as Kiekert China Zhengzhou (KCZ). The acquisition will increase the company‘s share of the Asian market for automotive locking systems by up to 20%.

Founded in 2005, Henan North Xingguang has 550 employees and reported sales of US$57m last year. The company supplies automotive locking systems to car makers throughout China.

“The transfer of our Kiekert DNA to our new colleagues in Zhengzhou will ensure the successful continuation of our globalisation,” said Kiekert CEO, Karl Krause.

“With KCZ we are creating new capacity in order to support our customers and the growth in China and Asia.”

Financial terms of the acquisition were not released.

Topics in this article:
NEWSLETTER Sign up Tick the boxes of the newsletters you would like to receive. The top stories of the day delivered to you every weekday. A weekly roundup of the latest news and analysis, sent every Monday. The industry's most comprehensive news and information delivered every quarter.
I consent to GlobalData UK Limited collecting my details provided via this form in accordance with the Privacy Policy
SUBSCRIBED

THANK YOU

Thank you for subscribing to Just Auto