In the surging overseas mergers and acquisitions wave, Jinzhou enterprises are no longer just bystanders. On July 12th, Jinzhou Halla Motor Co., Ltd. merged all the procedures for the overseas registration of equity transfer of the UK New Year Co., Ltd., and Jinzhou Halla already owns 100% equity of the company, including its foreign technology and its establishment in China. The production base, which is the first time for Jinzhou enterprises to successfully acquire overseas companies.
Jinzhou Halla Motor Co., Ltd. is a professional manufacturer of automotive parts in China. Its main products are automotive generators and starters, and it ranks second in the domestic automotive motor industry. Since last year, in order to cope with the financial crisis, Jinzhou Halla has made adjustments in its decisions, reconfigured resources, and helped cross-border mergers and acquisitions to help companies acquire the goodwill, new products, new technologies, and advanced equipment required for their development, enabling them to rapidly complete their industrial structure. Adjustments and technological levels will be improved, market share will be increased, and investment risks will be reduced and dispersed.
Through various inspections and demonstrations, Jinzhou Halla Company and the British New Year City Co., Ltd. conducted a preliminary merger and acquisition consultation and signed an equity transfer agreement in October 2008. The main business of British New Year Limited is investment in the automotive and auto parts industry. The company's headquarters and R&D center are established in the United States. The controlling shareholder is Hony Capital, which is mainly composed of international top investment banks such as Goldman Sachs and JP Morgan Chase. The company has a registered capital of 12 million U.S. dollars at its production base in Jinan, China. Its main business is automotive engine valve and valve lifter products.
The company's valve and valve tappet design and manufacturing technology is among the highest in the world. Its product sales volume has been in a leading position in the global industry. In addition to supporting one of the top 3 OEMs in North America, it also supplies Shanghai Volkswagen and Tianjin Toyota. Some of the well-known Chinese auto and engine companies, such as Shenlong Beverly, Beijing Chrysler, China FAW, Weichai, Xichai, and Dachai, are supporting them.
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