By: Rubber & Plastics News
January 22, 2014
AUBURN HILLS, MICH. — Henniges Automotive Holdings Inc. has acquired the remaining 40 percent it didn't own of Beijing Wanyuan-Henniges Sealing Systems Co. Ltd., its Chinese joint venture with China Academy of Launch Vehicle Technology.
Henniges and China Academy of Launch Vehicle Technology started the joint venture in 1995. The Chinese entity now will operate under the Henniges Automotive name.
"We continue to pursue opportunities that strengthen our global footprint in order to drive results and further our ability to serve key customers locally in China and around the world," said Doug DelGrosso, Henniges president and CEO.
Wanyuan Henniges employs more than 1,500 people to design, develop and manufacture sealing products for customers, including FAW-Volkswagen Automobile Co. Ltd., FAW Car, Dongfeng Peugeot Citroen and Shanghai Volkswagen.
It recently began providing production parts for a global General Motors program.
"China is a growing automotive industry market and Henniges is focused on supporting key original equipment manufacturers through our unique understanding of the critical nature of the economy, the government influences, the global original equipment manufacturers' needs in emerging markets and global program management," said Margaret Sheng, Henniges Automotive executive vice president of Asian operations.
Establishing sole ownership of Wanyuan-Henniges is one of a number of moves the firm has made in the firm's strategic growth effort. Since November 2013, Henniges has formed strategic alliances with Amee Rubber Industries Pvt. Ltd. and Burkool SA. Both alliances are focused on supporting the growth of key automotive original equipment manufacturers.
Amee is a producer of sealing systems and molded rubber parts for automobiles throughout India. The firm is headquartered in Mumbai, India, and operates a plant in Gujarat, India.
Burkool is a sealing components manufacturer based in Buenos Aires, Argentina.