By: Rhoda Miel
September 19, 2013
Joyson Investment Holding Co. Ltd. is offering the German management of its Preh GmbH auto electronics group the opportunity to buy up to 2 percent of the parent company’s shares.
Joyson, based in Ningbo, China, bought a controlling stake in Preh of Bad Neustadt, Germany, in 2011 and made it part of its Joyson Electronics business. Preh became a wholly-owned subsidiary of Preh in late 2012.
The offer to Preh’s management team and 24 second-level managers is intended to show “clear commitment to the German management team,” Joyson said in a Sept. 18 press release.
“When we acquired Preh two years ago, we aimed for the highest level of continuity for customers and employees,” Joyson founder Jeff Wang said.
Preh management’s continued focus in the business has allowed it to build on its existing platform with customers while growing with new access from Joyson.
The Preh group has 3,300 employees in Germany, Portugal, Romania, Mexico, the United States and China. Joyson has both auto supply operations — based in Shanghai — and a real estate division.