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Shanghai, China, September 4, 2007. Continental Automotive Systems, an international auto parts supplier, Continental Group, recently announced plans to acquire Zhangjiagang Fugang Heli Electric Co., Ltd. from Jiangsu Fugang Group. The acquisition is still subject to the approval of the relevant government.
Wufugang Heli was established in 2005. It is a private manufacturing company that produces fan motor modules and window motors, and has about 250 employees. In 2006, the company achieved sales of 84 million yuan. Fugang Heli’s company is headquartered in Zhangjiagang City, Jiangsu Province, and has two factories in Zhangjiagang and Changchun City, Jilin Province. Both plants are equipped with sales and engineering teams, and their customers include major international and domestic car manufacturers. After the completion of the acquisition, Fugang Heli will be merged into the electric drive division of Continental Automotive Systems.
“After the acquisition of Fugang Heli, Continental Automotive Systems will greatly increase its local production capacity in China, better meet the needs of Chinese OEMs, and have a new export base with low production costs and strong competitiveness to serve the entire Asian market “Dr. Karl-Thomas Newman, President of Continental Automotive Systems and member of Continental’s Executive Committee, said:” This acquisition will greatly enhance Continental’s global leadership in fan motor products, and truly achieve: whether it is mature The market is still an emerging market. Where there are our OEM customers, there are products from Continental Automotive Systems. “
“Fogang Heli has a good customer base and fully understands the needs of the Chinese market. This will greatly enrich our product line and enable us to better serve the Chinese and Asian markets.” Senior Vice President, Continental Automotive Systems Electric Drive Karlheinz Haupt said: “These new Chinese employees will be fully integrated into the Continental Automotive Systems corporate framework, which will ensure that they can make the greatest contribution to the development of the global business network.
Background information
Continental Group is one of the world’s leading automotive suppliers. Its products include brake systems, chassis components, body electronics, tires, and rubber and plastic products. In 2006, Continental achieved sales of 14.9 billion euros. There are currently more than 89,000 employees worldwide.
As the world’s leading technology partner for the automotive industry, Continental Automotive Systems under Continental Group has very advanced technology and reliable quality in areas such as driving safety, embedded vehicle communication systems, hands-free communication systems, power transmission and comfort. . In 2006, Continental Automotive Systems achieved sales of approximately 6 billion euros and more than 30,000 employees. Continental Automotive Systems develops and produces electronic brake systems, hydraulic brake systems, body stability and chassis control systems, electronic air suspension systems, sensors, engine management and transmission control systems, hybrid drive systems, cooling fan modules, body and Safety electronics is also a leading company in embedded vehicle communications and vehicle hands-free systems.