Gestamp Automoción

Gestamp will invest approximately EUR 16.6 million to expand its site in Vila Nova de Cerveira, Portugal, to produce new components for electric and hybrid vehicles. The company will also receive EUR 4.2 million in funding from AICEP.

Gestamp Automocion SA opened a new EUR 50 million ($56.58 million) production facility in Tianjin, China, named Gestamp Auto Components (Tianjin) Co Ltd, bringing its China count to 11 production facilities and 2 R&D centers.

Gestamp Automoción, S.A. acquired the remaining 60% stake in Grupo Estampaciones Sabadell S.L.U. in July 2016. The deal was subject to approval by the Spanish Antitrust Authority.