Newtek Automotive acquires China Yantai Friction Co.

Newtek Automotive USA has taken over China Yantai Friction Co. (CYFC) of Penglai, Shandong Province, China, effective February 1, 2020. The facility produces brake pads for OE and aftermarket.

“Newtek Automotive USA has announced the takeover of China Yantai Friction Co. (CYFC) of Penglai, Shandong Province, China, effective Feb. 1.”aftermarketnews.com

• 2 sources
• aftermarketnews.comNewtek Automotive Takes Over China Yantai Friction Co.aftermarketNews StaffFeb 6, 2020
• thebrakereport.comNewTek Automotive USA Takes Over China’s CYFCThe BRAKE Report StaffFeb 14, 2020

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