Zhejiang Shuanghuan Driveline Machinery

Zhejiang Shuanghuan Driveline Machinery Co., Ltd. acquired an 81% stake in German gearbox and auto component manufacturers Schmiedetechnik Plettenberg GmbH & Co. KG and Werkzeugtechnik Plettenberg GmbH & Co. KG from VVP Vermögensverwaltung Plettenberg GmbH & Co. KG.

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.