Fosun and its joint venture Nanjing Nangang Iron & Steel United has completed the acquisition of a majority stake in Koller Beteiligungs, a German Tier 1 and 2 supplier in Dietfurt, Germany.
It is the first overseas investment for Nanjing Nangang and the first overseas industrial investment in the automotive industry for Fosun.
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Koller owns factories in Germany, Hungary and Mexico and produces injection moulding composite parts and pressing tools, including the PUR-honeycomb sandwich panels for automakers including Volkswagen, Audi, BMW, Mercedes and Land Rover. It specialises in weight reduction.
Koller will strengthen its market position in Europe and consider new production locations and expansion opportunities in China.
Guo Guangchang, chairman of Fosun, said: “I believe there will be greater demand for high quality and innovative lightweight products and solutions and we look forward to working closely with the Koller Group in bringing their products to these markets.”
“We strongly believe Koller will come to the China market soon,” added Huang Yixing, chairman of Nanjing Nangang.
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By GlobalDataMax Koller, CEO of Koller Beteiligungs, said: “This partnership enables the Koller Group to expand business to the Asian market [and] will open a wide range of business opportunities.”
