# Zhejiang Shuanghuan to acquire 81% of STP and WTP Plettenberg

Zhejiang Shuanghuan Driveline Machinery Co., Ltd signed a letter of intent to acquire 81% of Schmiedetechnik Plettenberg (STP) and its subsidiary Werkzeugtechnik (WTP) from the family-owned parent company. The deal includes machining centers in Tholey and Bad Emstal, Germany.

- Type: Acquisition
- Announced: 2019-08-15
- Where: Plettenberg, Germany, Germany
- Status: announced
- Products: forged parts, tooling
- Sectors: [Automotive Components](https://endata.com/sectors/automotive-components.md), [Industrial Machinery](https://endata.com/sectors/industrial-machinery.md)

## Companies

- [Schmiedetechnik Plettenberg](https://endata.com/companies/41098.md) (target)
- [Zhejiang Shuanghuan Driveline Machinery](https://endata.com/companies/41392.md) (acquirer)
- [Werkzeugtechnik Plettenberg](https://endata.com/companies/41393.md) (target)

## Sources

- [come-on.de](https://www.come-on.de/kreis-mk/sollen-prozent-chinesisches-unternehmen-gehen-12917279.html), 2019-08-15: "Mit unserer Wachstumsstrategie stoßen wir als mittelständisches Familienunternehmen an finanzielle Grenzen."

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