Beijing Hainachuan Automotive Parts Co., Ltd. FY2011
- The Beijing-based company has launched a plant construction project in Zhuzhou, Hunan Province in a move to expand its presence into southern China. In addition to supplying its products to the Beijing Automotive Group, it has been increasing business with other Chinese automakers as well.
- In recent years, the Company has been placing emphasis on module business.
-The production and sales of the Company were increased by 94.76% compared with 8million in 2010 to 15.6 billion yuan in 2011.
Acquire Inalfa Roof Systems Group B.V.
-AAC Capital Partners announced that, together with its co-shareholder Parcom Capital, it has agreed to sell Inalfa Roof Systems Group B.V. to the Company (BHAP). BHAP, an automotive parts manufacturer in China, offers a wide array of products such as automotive modular interior/exterior decoration, seat system, electronic module system, heat exchange system and chassis. (From a press release on April 27, 2011)
-The Company announced on June 23 that it will turn the Inalfa Roof Systems Group its wholly owned subsidiary by acquiring its shares of stock from its four shareholders, which include AAC Capital Partners and Parcom Capital. The deal is expected to be worth 190 million euros. The company has already obtained approval for the acquisition project from the National Development and Reform Commission. It is also expecting an antitrust investigation at the end of July. (From news releases issued by multiple sources on June 24, 2011)
-On July 29, 2011, the Company and Inalfa Roof Systems Group signed a stock transfer contract regarding Beijing Hainachuan’s purchasing 100 percent shares of Inalfa to make it its wholly owned subsidiary. Inalfa will continue to work on its own projects, aiming to increase its shares in the Chinese market from the current 7 percent to 25 percent over the next five years.(From a press release on July 29, 2011)
-Zhejiang Asia-Pacific Mechanical & Electronic Co., Ltd. and the Comapny will make additional investments in their 50-50 joint venture, Beijing Asia-Pacific Chassis Co., Ltd. Zhejiang Asia-Pacific will invest 19.20 million yuan, and Beijing Hainachuan 20.8 million yuan. The capital of the joint venture will thereby double from the current 40 million yuan to 80 million yuan, changing the capital composition to 49 percent by Zhejiang Asia-Pacific and 51 percent by the Company. (From an announcement by the company, May 6, 2011)
-Plastic Omnium Auto Inergy, a wholly owned subsidiary of Plastic Omnium, has announced the creation of a joint company in China with the Company (BHAP), a subsidiary of Beijing Automotive Industry Co (BAIC). The new company will be owned 40% by BHAP and 60% by Plastic Omnium Auto Inergy, which will contribute its Beijing production plant, where fuel systems for Hyundai are already being produced. The company has 12 plants in China for its two automotive businesses – exterior components and composites and fuel systems. (From a press release on July 11, 2011)
-The Company and Jiangnan Mould & Plastic Technology Co., Ltd. announced that they will inject additional capital in Beijing Beiqi Mould & Plastic Technology Co., Ltd. in cash as announced on December 3, 2009. The Company, which has a 51 percent shareholding in the joint venture, will invest 20.4 million yuan, raising its amount invested to 40.8 million yuan (51 percent); and Jiangnan Mould & Plastic Technology, which has a 49 percent shareholding, will inject 19.6 million yuan, lifting its amount invested to 39.2 million yuan. (From a press release, October 25, 2011)
- On February 18, 2011, the Company signed the following five partnership projects:
1) establishing Beijing Hainachuan Yanfeng Automotive Module Systems Co., Ltd. through a joint investment with Yanfeng Visteon Automotive Trim Systems Co., Ltd.;
2) entering a technical collaboration in module business with CH Auto Technology Corporation Ltd.;
3) reorganizing and increasing the capital of Beijing Beiqi Feichi Auto Electrical Technology Co., Ltd. jointly with Beijing Hainachuan Automotive Parts. The purpose of the collaboration is to enter the generator and starter markets for passenger and commercial vehicles;
4) expanding business at Beijing Gear Works jointly with Beijing Automobile Works Co., Ltd.; and 5) conducting joint development of automotive noise insulating products with Chongqing Changpeng Industry (Group) Co., Ltd. (From a press release, March 2, 2011)
Partnership with non-Beijing Automotive Group companies
- On March 14, 2011, the Company and JAC held a meeting to discuss local procurement of components for light-duty trucks to supply to JAC Qingzhou Plant. The two companies have been collaborating in areas including technology since December 2010. (From a press release, March 17, 2011)
From mid-May to the end of July 2011, the research and development of modular products of the Company successfullyassembled to BAIC C70.