Continental AG’s Automotive Systems division has said it plans to acquire Fugang Heli Electronics Co., Ltd. from the Fugang Group, China.
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The acquisition is subject to regulatory approval.
Fugang Heli, founded in 2005, is a manufacturer of cooling fan modules and window lift motors with around 250 employees. In 2006, the company achieved sales of RMB84 million.
The company is headquartered in Zhangjiagang City, Jiangsu Province and has two production facilities in China at Zhangjiagang and Changchun, Jilin Province with engineering and sales teams in both locations.
Customers of both plants include major Chinese and international vehicle manufacturers. Fugang Heli will be integrated into the Business Unit Electric Drives of Continental Automotive Systems.
“With the acquisition of Fugang Heli, Continental Automotive Systems will enhance the local production capability in order to better meet the demand of (automakers) in China as well as develop a new base for export into other regions in Asia based on a cost competitive manufacturing,” said Continental executive board member Karl-Thomas Neumann.
