China’s Shandong Yongtai Chemical Group plans to acquire UYT, a UK manufacturer of automotive body parts – including sunroof systems, welded subframes and other body in white parts, for GBP30m.
The deal follows the earlier acquisition by Shandong Yongtai of Covpress, also a Coventry-based manufacturer of pressed and welded body parts, including complete body in white systems for niche applications.
Go deeper with GlobalData
Discover B2B Marketing That Performs
Combine business intelligence and editorial excellence to reach engaged professionals across 36 leading media platforms.
This latest buy gives the Chinese manufacturer access to advanced automotive welding technology as well as new clients, including Honda, Jaguar Land Rover and General Motors.
UYT is an Anglo-Japanese joint venture established in 1996 to supply niche engineering services and body and chassis parts to the automotive industry.
As with Covpress, Shandong Yongtai said it planned to invest in expanding UYT’s capacity to increase the company’s global footprint.
