Auburn Hills-based Henniges Automotive Holdings Inc., a global supplier of sealing and anti-vibration systems for the automotive market, has been acquired by China-based AVIC Automotive Systems Holding Co. Terms of the deal were not disclosed.
"We are encouraged about this acquisition by AVIC Auto, which will provide the capital and financial backing needed to sustain and grow our business, and ensure that the Henniges heritage, culture, and name continue to thrive into the future," says Douglas DelGrosso, president and CEO of Henniges Automotive.
DelGrosso says Henniges has taken on various strategic growth moves to support customer programs in emerging markets, and is in the process of constructing new facilities in Mexico, China, and Germany. He says the acquisition will enhance Henniges Automotive's worldwide capabilities and expand the Chinese market.
The Aviation Industry Corporation of China (AVIC) is one of the largest state-owned enterprises in China, with its core business in the aviation industry. AVIC Auto also purchased Nexteer Automotive Group in 2011. Nexteer is in the process of moving its headquarters to Auburn Hills. Since China's AVIC Automotive became a controlling shareholder in 2010, Nexteer has added approximately 2,000 jobs in Michigan and invested more than $400 million in the state.
Henniges Automotive was purchased by Connecticut-based Littlejohn & Co. LLC, a private investment firm, in 2010. Henniges Automotive has more than 7,100 employees worldwide.