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.
