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Hanon Systems forms joint venture with CSGC subsidiaries · Endata

◂ Announcements

Oct 11, 2017ACQUISITIONChongqing, China

Hanon Systems forms joint venture with CSGC subsidiaries

Hanon Systems will establish a joint venture with Chongqing Jianshe Motorcycle Co. Ltd. and Chongqing Jianshe Mechanical & Electrical Equipment Co., subsidiaries of China South Industries Group Corporation, to supply automotive air conditioning and eco-friendly solutions to Changan Automobile Group. The partners will invest a combined 420 million Yuan (approx. $64 million) in registered capital.

Value

$64.0M (420.0M CNY)

Status

Announced

Productsautomotive variable compressorsheat pump systemsHVAC modulespowertrain cooling components

CompaniesHanon Systems partner Chongqing Jianshe Motorcycle partner Chongqing Jianshe Mechanical & Electrical Equipment partner Changan Automobile customer China South Industries Group Corporation partner

Sectors#Automotive Components

“Completion of the new joint venture is expected by the end of 2017, pending formal approval by the China government.”prnewswire.com

1 source
prnewswire.comHanon Systems Establishes Joint Venture with China South Industries Group Corporation SubsidiariesHanon SystemsOct 12, 2017

Summarized from public sources; check the original articles before acting on it.

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