Grammer has signed an agreement to establish a joint venture for automotive interior components with Changchun Fawsn Group, an affiliate of FAW Group.
Grammer holds 50% of the new joint venture, Grammer Fawsn Vehicle Parts, while the remaining 50% will be provided by Changchun Fawsn.
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The joint venture will develop and produce a range of passenger car interior components manufactured by the FAW Group and its foreign partners. Grammer will contribute know-how for consoles, interior components and thermoplastic products.
"The joint venture with the Changchun Fawsn Group marks another important milestone in our growth strategy in China and through close cooperation with a leading local OEM, we will strengthen our position in the world's largest automotive market and significantly accelerate our planned growth in Asia," said Grammer CEO, Thorsten Seehars.
"The joint venture combines the strengths of a leading Chinese manufacturer with the expertise of a leading provider of interior components."
With a total of six production sites and two research and development locations covering the passenger car and commercial vehicle segments, Grammer generates around 15% of Group sales in China.
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