China Auto Parts and Accessories Capital Holding,(CAPACH) said today (18 July) it had acquired Century Automotive Mfg (CAM), a US auto parts and components supplier.
“The China automotive industry has grown steadily in the past and now is on track to become a global auto making power,” said China Auto Parts and Accessories Corporation VP and chairman of CAPACH Zhang Houqi.
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“This transaction is an important step for the China automotive parts and components industry to achieve the goals of innovation and growth. Century Automotive has substantial global marketing capabilities and will greatly help to increase the value of China auto parts and components in world markets.”
The acquisition has been completed through an equity restructuring.
Century Automotive is an auto parts supplier focusing on chassis system integration as well as auto parts and accessories development. It has a global sales network and has set up close ties with major OEM suppliers and auto makers worldwide.
Its technology research and development centre, located in Detroit, integrates engineering R&D, technical support, and OEM sales.
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By GlobalDataCAPACH is a capital and equity holding company, which focuses on M&A, restructuring and equity management in global auto industries.
As part of the transaction, Zhang will take the position of chairman of the board.
