Passenger cars latch system producer Kiekert has been acquired by Chinese automotive supplier Lingyun after what are described as “intense” negotiations.
A formalisation of contracts and assessment by the Federal Trade Commission will be finalised in the coming months.
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Kiekert says its manufacturing, streamlining of the global production footprint, flexibility improvements and expansion in Asia have led to continuous contributions to operating income.
In 2011 Kiekert sold more than 41m latch systems – the highest production volume in the history of the company and posted turnover of more than EUR500m (US$651m).
Kiekert says it plans to globalise the core products of Lingyun to Europe and the NAFTA region.
