ThyssenKrupp AG Acquire Tianrun Crankshaft

Resource from: cbcc-yinx Likes:3216

Jan 13,2006

Jan.10, Foreign Commerce & Trade Bureau in Weihai city, Shandong province announced that the Germany steel power ThyssenKrupp AG had successfully acquired 51%'s equity of Tianruan Crankshaft Co.,Ltd, which cost them Euro 50 million. Tianrun Crankshaft Co.,Ltd is the former Shandong Crankshaft Plant who formed the current Tianrun Crankshaft with the leading financial management and advisory company--Merrill Lynch in 1995. Tianrun Crankshaft is the leading manufacturer of crankshaft in China. They had created annual sales 600 million yuan, revenue payment 50 million yuan in 2004. Their annual capacity of various shaft hit 500,000 pcs, taking 60% of the crankshaft market share in China. For their product quality, Tianruan crankshaft become the authorized supplier for several China famous engine manufacturers, such as Yuchai Group, Weichai Power, FAW Wuxi Diesel Engine etc. In fact, the buyer of Tianrun Crankshaft's 51% equity is ThyssenKrupp's Auto Parts Subsidiary who is the largest crankshaft manufacturer in the world. ThyssenKrupp said that they will build up a largest and high tech contented crankshaft manufacturing base with Tianrun Crankshaft. Presently, both parties have begun to plan for their new crankshaft manufacturing industrial park which will be equipped with a casting assembly line and a machining assembly line with annual capacity of 320,000 and 920,000 pcs crankshafts respectively. The predictive return on investment will be over 20% and being materialized in 5 years. Tianrun Crankshaft Co.,Ltd

(cbcc-yinx)

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