The Grammer Group of Germany has signed a contract to fully take over the Grammer Seating (Jiangsu) Co. Ltd. joint venture, which is domiciled in Jiangyin, China.
23 Jan 2015 | 6484 Views | By Autocar Professional Bureau
The Grammer Group of Germany has signed a contract to fully take over the Grammer Seating (Jiangsu) Co. Ltd. joint venture, which is domiciled in Jiangyin, China.
Under the terms of the contract, Grammer will be acquiring the 40-percent share hitherto held by joint venture partner Jiangsu Yuhua, thus ...
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The Grammer Group of Germany has signed a contract to fully take over the Grammer Seating (Jiangsu) Co. Ltd. joint venture, which is domiciled in Jiangyin, China.
Under the terms of the contract, Grammer will be acquiring the 40-percent share hitherto held by joint venture partner Jiangsu Yuhua, thus becoming the sole shareholder. This investment marks a further step in the systematic implementation of its global growth strategy and the enhancement of its position in this high-growth region.
“Our strategy for the Chinese market has proved itself and, moving forward, we want to continue outpacing the growth in the commercial vehicle market in Asia,” said Hartmut Müller, chairman of the Executive Board of Grammer AG, explaining the transaction. “We are seeing growing demand for technologically sophisticated seats in China, which we want to address. As a sole-owner we are now able to react on market and customer potential even faster and more flexible”, he added.
Grammer Seating (Jiangsu) Co. Ltd. has been producing suspended seating systems for trucks in China since 2013. With more than one million new vehicles each year, China is the world’s largest market for heavy trucks. Grammer wants to broaden its position in this high-growth region by offering seat models addressing the specific requirements of this market.
Grammer AG, Amberg, Germany, specialises in the development and production of components and systems for automotive interiors as well as driver and passenger seats for offroad vehicles (agricultural and construction machinery, forklifts), trucks, buses and trains. Its seating systems division comprises the truck and offroad seat segments as well as train and bus seating. In the automotive division, it supplies headrests, armrests and center console systems to premium automakers and automotive system suppliers.
Grammer is represented in 20 countries worldwide with a workforce of more than 10,000 employees across its 30 subsidiaries.