ASIMCO Technologies Limited Business Report FY ended Dec. 2015
New company
-ASIMCO announced that the company and Frits Winter of Germany have signed an agreement to establish a joint venture in Langfang, Hebei Province, China. The new company will be called ASIMCO Winter Automotive Parts (Langfang) Co., Ltd., and will produce brake discs and brake drums for passenger vehicles and commercial vehicles. The company will be owned 51 percent by ASIMCO and 49 percent by Frits Winter. (From news releases issued by multiple sources on March 26, 2015)
Equity transfer
-Brembo S.p.A. announced that it has completed the acquisition of a 66% stake in the share capital of ASIMCO Meilian Braking Systems (Langfang) Co., Ltd. The transaction consideration was set at RMB 574,356,000, equal to approximately EUR 78 million. The remaining 34% of ASIMCO's share capital will be held by the state-owned company Langfang Assets Operations Co., Ltd. ASIMCO Meilian Braking Systems, based in Langfang, in the Chinese province of Hebei, owns a foundry and a plant for the manufacturing of cast-iron brake discs. This company supplies regional car makers, mainly joint ventures between Chinese companies and top European and U.S. auto OEMs. ASIMCO Meilian Braking System’s Q1 2016 sales amounted to RMB 109 million (approximately EUR 15 million). It employs a workforce of 637 overall. (From a press release on May 19, 2016)
-Zhengzhou Coal Mining Machinery Group Co., Ltd. announced that it will issue new shares and acquire 100% of ASIMCO International Casting Co., Ltd. (Shanxi) shares and 8.07% of ASIMCO NVH Technologies Co., Ltd. (Anhui) shares from ASIMCO (China) Limited. In addition, it will purchase 14.93% of ASIMCO NVH from ASIMCO (China); 77% of ASIMCO NVH from ASIMCO Technologies Hong Kong Limited; 63% of Yizheng Shuanghuan Piston Ring Co., Ltd., 70% of ASIMCO Foundry (Yizheng) Co., Ltd., and 63% ASIMCO Camshaft (Yizheng) Co., Ltd. all from Axle ATL Cayman Limited; and 100% of CACG I shares from ASIMCO Technologies Limited by paying in cash. These transactions are expected to be worth CNY 2.2 billion in total. (From an announcement by the company on March 25, 2016)
-Brembo S.p.A. signed an agreement with ASIMCO (China) Limited and ASIMCO Technologies Hong Kong Limited to buy 66% stake of ASIMCO Meilian Braking Systems (Langfang) Co. Ltd. at a price of CNY 616 million (approximately EUR 86 million). The remaining 34% is owned by Langfang State-owned Asset Operation Co. Ltd. The closing of the operation is expected in the coming months. ASIMCO Meilian Braking Systems, located in Langfang (Hebei Providence, China) is a cast iron foundry and machining plant for the production of brake discs for passenger cars, to supply nearby carmakers, mostly joint ventures of European and U.S. customers. The company expects sales for CNY 650 million in 2015 (approximately EUR 90 million) and employs a workforce of 580 people. (From a press release on September 29, 2015)
Production line
-ASIMCO Meilian Braking Systems (Langfang) Co., Ltd., a subsidiary of ASIMCO Technologies Limited, announced that it has completed the construction of its fully automated brake disk production line. The construction project started at the beginning of 2015, and production on the new line will begin at the end of July 2015. The company is currently constructing its second fully automated production line. Its trial operations are scheduled to be conducted by the end of September 2015. (From a press release on July 2, 2015)
Financial Overview
-In 2014, ASIMCO International Casting Co., Ltd. (Shanxi), a subsidiary of the Company, reached CNY 562 million in sales. The sales volume of the castings reached 52,275 tons.
Contracts
-The Company announced that it has won a contract to supply its products to Isuzu Motors Limited in Japan. This is the first time that ASIMCO exports its products to Isuzu. (From a press release on November 27, 2014)
-On August 11, 2014, ASIMCO Tianwei Fuel Injection Equipment (Beijing) Co., Ltd., a subsidiary of the Company, announced that the company and Delphi have signed an agreement, under which ASIMCO will supply fuel injection products to Delphi. ASIMCO’s injectors, injection nozzles and other fuel system components will be delivered to Delphi’s global operations. (From a press release on August 11, 2014)
-Hubei Super-Elec Auto Electric Motor Ltd., a joint venture of the Company, announced that it has been given the qualification to supply its starters for Volkswagen vehicles sold in Europe. Three types of the company’s starters will be installed on 125,000 Volkswagen vehicles per year. Sales from the business are expected to reach approximately EUR 3 million. (From a press release on May 7, 2014)
Pass the Test
-ASIMCO Shuanghuan Piston Ring Co., Ltd. (Yizheng), a subsidiary of ASMICO, announced that it has passed Guangxi Yuchai Machinery Co., Ltd.’s production part approval process (PPAP). (From a press release on June 13, 2016)
-ASIMCO NVH announced that it passed a test to become VW Audi's potential supplier on August 19, 2015. (From news releases issued by multiple sources on September 14, 2015)
Awards
-ASIMCO Shuanghuan Piston Ring Co., Ltd. (Yizheng), a subsidiary of ASIMCO Technologies Limited, announced that it has received the Best Quality Award 2015 from Foton Cummins Engine. (From a press release on May 26, 2016)
-ASIMCO Technologies Limited announced that Yizheng Shuanghuan Piston Ring Co., Ltd., its subsidiary, has received the Excellent Quality Award from DEUTZ (Dalian) Engine Co., Ltd. (From a press release on December 21, 2015)
-ASIMCO Technologies Limited announced that Yizheng Shuanghuan Piston Ring Co., Ltd., its subsidiary, received the Outstanding Contribution to Quality Award from Anhui Jianghuai Navistar at the 2016 supplier meeting held by the automaker on November 24, 2015. (From a press release on December 21, 2015)
-ASIMCO Technologies Limited announced that Yizheng Shuanghuan Piston Ring Co., Ltd., its subsidiary, received the Outstanding Contribution to Development Award from Jiangling Motors at the 2016 supplier meeting held by the automaker on November 19, 2015. (From a press release on December 21, 2015)
R&D structure
-The Company has around 450 R&D staff as of 2014.
R&D facilities
-The Company has 7 R&D centers as of 2014.
-In 2014, the R&D center on casting technologies established in ASIMCO International Casting Co., Ltd. (Shanxi).
Product Development
-ASIMCO Tianwei Fuel Injection Equipment (Beijing) Co., Ltd. has been developing diesel common rail system.
-Hubei Super-Elec Auto Electric Motor Co., Ltd. has been developing the new product, start-stop motor, which has been tested by VW and is expected to be supplied to the global platform of VW in 2015.
Technical Cooperation
| Company Name (Country) |
Facility | Area of Cooperation | Nature of Relationship |
| Haldex AB (Sweden) |
Asimco Braking Technologies (Langfang) Co., Ltd. | Compressors for air brakes | License Production |
| Caterpillar (U.S.A.) |
Asimco International Casting Co., Ltd. (Shanxi) | Large iron castings (i.e. Engine blocks, Cylinder heads) | Joint Venture |
Patents
-ASIMCO Technologies Limited announced that Yizheng Shuanghuan Piston Ring Co., Ltd., its subsidiary, obtained a patent for the disc-removal mechanism of its automatic modeling production line. The patent was awarded on September 22, 2015. In addition, the subsidiary completed the international PCT (Patent Cooperation Treaty) application for its oil scraper ring and variable radial thickness piston ring.
-ASIMCO Camshaft (Yizheng) Co., Ltd., a subsidiary of ASIMCO Technologies Limited, announced that it has applied for 14 patent and 12 utility model registrations since 2014, and has been granted seven patents from the State Intellectual Property Office of the People's Republic of China. (From a press release on September 9, 2015)