Fosun's first overseas investment in the industrial sector
SHANGHAI, Aug. 3, 2017 /PRNewswire/ -- Fosun and its joint venture Nanjing Nangang Iron & Steel United Co. Ltd. (Nanjing Nangang) today announced it has completed the acquisition of a majority stake in Koller Beteiligungs GmbH (Koller), a German lightweight automotive specialist headquartered in Dietfurt, Germany. It is the first overseas investment for Nanjing Nangang and the first overseas industrial investment in the automotive industry for Fosun.
Koller owns production facilities in Germany, Hungary and Mexico. It produces injection molding composite parts and pressing tools, including the PUR-honeycomb sandwich panels for major European automotive companies, such as Volkswagen, Audi, BMW, Mercedes and Land Rover. As an innovation leader, Koller is the leading solutions provider for automotive manufacturers who are looking to reduce energy consumption and pollutant emissions by reducing the weight of the car.
With support from its new major shareholder, Koller will both strengthen its market position in Europe as well as explore new production locations and expansion opportunities in China.
Mr. Guo Guangchang, Chairman of Fosun, said, "We are pleased with this investment in Koller, a world leading lightweight innovative solutions provider to the automotive industry. We highly respect Koller's "spirit of craftsmanship", especially in providing solutions to reduce emissions and energy consumption. Environmental protection and energy saving are key global initiatives, especially in China. Lightweight technology could effectively decrease the energy consumption and promote sustainable development. I believe there will be greater demand for high quality and innovative lightweight products and solutions and we look forward to working closely with the Koller Group in bringing their products to these markets."
"New Materials is one of Nanjing Nangang's core segments for the business transition, and will become part of our major business section. As Koller's strategic investor, we will bring synergies and support Koller in its further development and expansion, especially creating lightweight solutions that meet the needs of China and Asia market. We strongly believe Koller will come to the China market soon," said Mr. Huang Yixing, Chairman of Nanjing Nangang.
Mr. Max Koller, CEO of Koller Beteiligungs GmbH, said, "We are delighted with our partnership with Fosun and especially with being the first automotive supplier firm invested by Fosun's joint venture. This partnership enables the Koller Group to expand their business to the Asian market and therefore continue Koller's successful development and expansion. This transaction will open a wide range of business opportunities. Together with Fosun and Nanjing Nangang, Koller will offer their broad range of lightweight solutions and tooling in the Asian market to existing and new customers. Koller's products and lightweight solutions follow the constraints of all automobile manufacturers worldwide, to reduce the cars' weight and exhaust emissions, regardless of the drive technology selected."
About Koller Beteiligungs GmbH
The Koller Group is a leading manufacturer of lightweight automotive parts in international markets. The Koller Group manufactures serial lightweight products using distinct technologies (molding and pressing) and materials (sandwich, plastics, CFK, SMC and hybrids), mainly supplying the automotive industry. The Koller Group acts as a Tier 1 and/or Tier 2 supplier, delivering its serial products mainly to European OEMs. Those serial products are manufactured at different locations in Europe and Mexico. Koller also acts as a lightweight development partner and system supplier for German and international OEMs. Moreover, the Koller Group operates a tool shop and conducts business in plant engineering and construction for external customers, as well as for Koller Group companies.
About Nanjing Nangang Iron & Steel United Co. Ltd.
Nanjing Nangang Iron & Steel United Co., Ltd. was founded in 2009 and is the majority shareholder in Nanjing Iron & Steel Co., Ltd., which was listed on the main board of the Shanghai Stock Exchange in 2000 (SH: 600282). Its main business is in industrial investment, and it also develops business platforms in the areas of environmental protection, intelligent equipment and new materials.
Fosun International Limited is a multinational company that has been listed on the Hong Kong Stock Exchange (00656:HK) since 2007. Founded in 1992, Fosun's total assets exceed RMB 480 billion (c.US$70bn). With its roots in China, Fosun is dedicated to creating global ecosystems in health, happiness and wealth (insurance, hive property and investments). Through innovation and technology, Fosun's ecosystems provide high-quality products and services for families around the world.
SOURCE Fosun International Limited