Chinese auto supplier aims to buy JCI's electronics business

AUTOMOTIVE NEWS CHINA

Published: April 8, 2013 12:14 pm ET
Updated: April 8, 2013 12:16 pm ET

Related to this story

Topics Automotive, Mergers & Acquisitions
Companies & Associations Johnson Controls Inc.

GUANGZHOU, CHINA — An automotive supplier majority owned by China's SAIC Motor Corp. is in talks with Johnson Controls Inc. about acquiring the U.S. supplier's electronics business, a daily Chinese business newspaper reports.

The SAIC unit, Huayu Automotive Systems Co., is expected to offer more than $1 billion (about 770 million euros) for the business, according to the 21st Century Business Herald, citing an unnamed investment bank source familiar with the deal.

The acquisition would strengthen Huayu's electronics business, which is headquartered in the south China city of Guangzhou, the newspaper reported,

Huayu is 60 percent owned by SAIC and is listed on the Shanghai stock exchange. It supplies automotive interior and exterior trims, metal formed and die cast parts as well as electric and electronics parts to global and domestic automakers in China.

In 2012, Huayu had sales of 57.9 billion yuan (7.2 billion euros), up 11 percent from 2011, and a profit of 3.1 billion yuan, up 4 percent year-on-year, the newspaper reported.

Glendale, Wis.-based JCI had announced on March 6 that it was considering selling its automotive electronics business. The business includes the company's HomeLink system-integrating garage door openers, alarm systems and other home controls into a vehicle control, as well as in-car electronics and safety systems.

JCI has said it is not interested in selling its automotive interiors business.


Comments

Chinese auto supplier aims to buy JCI's electronics business

AUTOMOTIVE NEWS CHINA

Published: April 8, 2013 12:14 pm ET
Updated: April 8, 2013 12:16 pm ET

Post Your Comments


Back to story


More stories

Image

German auto supplier Benecke-Kaliko to build second plant in China

October 1, 2014 10:24 am ET

German auto supplier Benecke-Kaliko AG is set to build its second Chinese facility, in Changzhou, to produce surface materials for automotive...    More

Image

RJG buys UK training group G&A

September 30, 2014 11:10 am ET

G&A Moulding Technology Ltd., a United Kingdom-based training and consultancy group, has been bought by RJG Inc., the U.S.-based training business.    More

Image

Ohio molder Denbro Plastics moves to new location

September 29, 2014 6:17 pm ET

Logo products injection molder Denbro Plastics Co. has moved to another plant within Toledo, Ohio, to streamline production and improve efficiency.    More

Image

Japan's parts makers face challenges as carmakers expand supply base

September 29, 2014 11:01 am ET

For all their size and success, Japanese auto suppliers that rocketed to global dominance on the coattails of their No. 1 customer, Toyota Motor Corp....    More

Image

Clariant extends reach into Asia with acquisition

September 29, 2014 9:54 am ET

Clariant International Ltd. is buying VitaPac (HK) Industrial Ltd., a Hong Kong-based company which produces desiccant packets for the healthcare pack...    More

Market Reports

Plastics in Mexico - State of the Industry Report

This report analyzes the $20 million dollar plastics industry in Mexico including sales of machinery & equipment, resins and finished products.

Our industry analysis highlights macro industry trends and micro trends faced by companies that do business in Mexico. The report also provides key industry statistics and forecasts to anticipate future industry expansion.

Learn more

Plastics Caps & Closures Market Report

The annual recap of top trends and future outlook for the plastics caps & closures market features interviews with industry thought leaders and Bill Wood’s economic forecast of trends in growing end markets. You will also gain insight on trends in caps design, materials, machinery, molds & tooling and reviews of mergers & acquisitions.

Learn more

Injection Molders Market Report & Ranking 2014

This special package contains our 132-page 2014 Market Report on the Injection Molding segment and our exclusive 2014 RANKINGS database of 500+ Injection Molders for a discounted package price.

Learn more

Upcoming Plastics News Events

January 14, 2015 - January 14, 2015Plastics in Automotive

February 4, 2015 - February 6, 2015Plastics News Executive Forum 2015

June 2, 2015 - June 3, 2015Plastics Financial Summit - Chicago 2015

September 16, 2015 - September 18, 2015Plastics Caps & Closures - September 2015

More Events