Shanghai (Gasgoo)- German automotive parts group BENTELER International AG (“BENTELER”) plans to build a joint venture in China with Lucky Harvest, a Chinese supplier of precision stamping dies and metal structural parts, according to the latter's announcement issued on March 18.
Per the statement, BENTELER Investment (China) Ltd., a wholly-owned subsidiary of BENTELER, and Lucky Harvest intend to build a joint venture in Dongguan city, Guangdong province with a registered capital of no more than 100 million yuan ($15.713 million). Temporarily dubbed BENTELER Lucky Harvest Automotive Systems Ltd., the joint venture will be 51/49 held by the German and Chinese shareholders respectively.
The joint venture shall feature a business scope covering the design, development, manufacturing, testing, production and sale of the structural parts and systems related to car bodies, and the components and systems about automotive chassis.
Photo credit: BENTELER
As a globally renowned auto parts supplier, BENTELER boasts the world's leading hot forming technologies, and supplies such components as front & rear suspension modules, chassis systems, anti-collision structural parts, and engine exhaust and controlling systems for automakers around the world.
Lucky Harvest said the main purpose of the external investment is to lay a solid foundation for its future layouts in the automotive chassis system and hot-forming part fields by leveraging both parties' resources and technical advantages.
Since the two investors have not signed any formal agreements, the joint venture's registered capital, products, business scope, and other details should be in accordance with the deal signed in the future.
