# Novares acquires full ownership of Wuhan JV and relocates plant

Novares Group has acquired the remaining 30% stake in its Wuhan, China joint venture from partner Yazhong, gaining 100% ownership. The company also relocated its Wuhan production plant to a new modern site in the SGM suppliers park.

- Type: Acquisition
- Announced: 2019-01-30
- Where: Wuhan, China, China
- Status: completed
- Products: interior plastic components, trunk trims, exterior pillars, cowl tops, engine parts
- Sectors: [Automotive Components](https://endata.com/sectors/automotive-components.md)

## Companies

- [Novares](https://endata.com/companies/26886.md) (acquirer)
- [Yazhong](https://endata.com/companies/36997.md) (target)

## Sources

- [novaresteam.com](https://www.novaresteam.com/novares-acquires-100-of-its-wuhan-china-jvand-relocates-its-production-facilities-to-modern-new-site/), 2019-01-30: "The 100% ownership of our Wuhan operation, combined with the relocation and upgrade of facilities at the site marks an important step in that journey."
- [autotechinsight.spglobal.com](https://autotechinsight.spglobal.com/news/5248376/novares-acquires-100-of-chinese-jv-from-partner-yazhong), 2019-01-31: "Novares, through its Chinese subsidiary Noveastern, has gained complete ownership of a Chinese joint venture (JV) company by acquiring 30% stake of its JV partner Yazhong."

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Data from Endata (https://endata.com/). Announcements are summarized from public sources and may be incomplete; check the linked originals.