Press release Bohai Acquires Majority Stake in TRIMET Automotive
TRIMET Aluminium SE and Bohai Automotive Systems Co., Ltd. have completed their joint venture for TRIMET’s Automotive Division. Via a subsidiary, Bohai Automotive now holds 75 percent of the shares of the joint venture, which manufactures die-casting components for vehicle construction.
The merger provides additional opportunities for TRIMET Automotive as a system supplier to the increasingly global operations of automobile manufacturers, thus sustainably strengthening its production sites in Harzgerode and Sömmerda. Bohai Automotive is a trusted partner of automobile manufacturers in key growth markets in Asia, especially China.
In December 2017, TRIMET and Bohai Automotive signed a binding agreement on Bohai Automotive’s purchase of the majority stake in TRIMET Automotive. The transaction was subject to a number of closing conditions, all of which have since been met.
Bohai Automotive is an internationally active automotive supplier based in China. It is listed on the Shanghai Stock Exchange. The largest shareholders of Bohai Automotive are Beijing Hainachuan Automotive Parts Co., Ltd. (BHAP) and Beijing Automotive Group Co., Ltd. (BAIC). Bohai Automotive is an automotive parts company covering the products of powertrain, chassis systes, interior/exterior and lightweight parts and has more than 3,700 employees.
TRIMET Automotive supplies all major automobile manufacturers and suppliers with bespoke solutions and light constructional components. More than 1,000 employees produce roughly 13 million die-casting components annually at its Harzgerode and Sömmerda plants, including mechatronic parts for next-generation automatic transmissions, structural components, engine blocks, and transmission casings. In addition to casting and mechanical processing, the company’s service range also focuses on research, development, and calculation of new aluminium components. This includes in-house tool design and mold construction.