Auburn Hills-based Henniges Automotive Holdings has acquired the remaining 40 percent of a major sealing systems producer from its joint venture with China Academy of Launch Vehicle Technology, the company announced Monday.
Establishing sole ownership of Beijing Wanyuan-Henniges Sealing Systems Co. is the latest move in the company’s strategic growth efforts to meet increasing needs in emerging markets around the world, says Doug DelGrosso, president and CEO of Henniges.
“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,” says DelGrosso. “After 18 years of operating as a joint venture with CALT, Henniges grew its capabilities and sealing technologies and now, as a wholly-owned entity, we look forward to continuing this success and providing solutions that meet local and global demands.”
Wanyuan-Henniges began in 1995 as a sealing systems producer in China, and has since established operations in Beijing, Changchun, Chengdu, Tianjin, and Teiling, with customers including Dongfeng Peugeot Citroen and Shanghai Volkswagen. Most recently, it began providing production parts for a global General Motors program.
The Chinese entity — which employs more than 1,500 people — will now operate under Henniges Automotive.
“China is a growing automotive industry market, and Henniges is focused on supporting key OEM customers through our unique understanding of the critical nature of the economy; the government influences; the global OEM needs in emerging markets; and global program management,” says Margaret Sheng, executive vice president of Asian operations at Henniges Automotive.