It has been a busy three months for Henniges Automotive Holdings Inc.
The firm just acquired the remaining 40 percent of Beijing Wanyuan-Henniges Sealing Systems Co. Ltd., its Chinese joint venture with China Academy of Launch Vehicle Technology.
Henniges and the academy started the joint venture in 1995. The Chinese entity now will operate under the Henniges Automotive name.
The firm would not disclose financial details of the transaction.
The firm also agreed to a strategic alliance with AD Plastik d.d.'s facility in Togliatti, Russia. The partnership is focused on supporting the growth of key automotive original equipment manufacturers.
AD Plastik manufactures plastic products—ranging from door paneling and instrument boards to ashtrays and ceiling light fixtures—for the automotive industry.
Its strategic alliance with AD Plastik is the third such strategic alliance since November. Henniges also entered similar agreements with Amee Rubber Industries Pvt. Ltd. and Burkool S.A.
Amee produces sealing systems and molded rubber parts for automobiles throughout India. The firm, headquartered in Mumbai, India, operates a plant in Gujarat, India.
Burkool is a sealing components manufacturer based in Buenos Aires, Argentina.
"Part of our plan is basically to have an answer for any region that our major customers operate in," said Douglas DelGrosso, Henniges president and CEO. "We think we've satisfied that now. That was an issue that existed 18 months ago. Many of our auto makers are building off a global platform. They've determined that it's more efficient for them to single source to suppliers who have the ability to do the same."
Source: rubbernews.com
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