On March 27, Anhui Zhongding Sealing Parts Co., Ltd. announced that it would increase the capital by EUR 100 Million to Zhongding Europe, its wholly owned-subsidiary, which will help it further develop the European market and expand the sales of its products in the European market.
Founded in Germany in 2008, Zhongding Europe is engaged in industrial investment and financial, human resource and other managements of the invested enterprises in Europe, whose investment scope is not limited to rubber industry. In recent years, through Zhongding Europe, Zhongding has acquired several European production enterprises successively. In March 2016, it spent RMB 80 Million Yuan to acquire 42.87% shares in Green Motion SA, a Swiss charging station operator; and in June of the same year, it acquired AMK, a German supplier of motor and battery control system, driving assistance and electronic control system for chassis, with an investment of EUR 130 Million.
This company indicated that the subsidiary’s role in Europe is not only to make equity investments that “money brings money”, but also to raise the popularity of Zhongding in Europe. Zhongding Europe and the companies it acquired all directly serve the downstream auto companies, which has a practical effect on boosting the sales volume of its products in Europe.
(Si Xianchao)
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