Citic Dicastal Co., Ltd.

Company Profile

■URL

https://www.dicastal.com/en

■Address

No.185, Longhai Road, Qinhuangdao Economic and Technological Development Zone, Hebei Province, China

Business Overview

-The Company is a supplier of aluminum wheels and aluminum chassis components. It mainly produces wheels for passenger cars, mini- and light commercial vehicles, and lightweight aluminum die castings for automotive powertrain, chassis, and body systems.

-The Company's annual production capacity of aluminum wheels is 69 million units, and annual capacity of aluminum castings is 100,000 tons.

-In December 2019, CITIC Limited sold 57.89% of the company's shares for CNY 5.5 billion, and completed the reorganization of the company in January 2020.

Shareholders

Unlisted (As of Dec. 31, 2021)

Shareholder Shareholding Ratio
CITIC Investment Holdings Limited 40%
Aluminum Alliances Limited 25%
Others 35%
Total 100%

Products

Aluminum Alloy Wheels
Wheels
Castings
Cylinder covers
Steering knuckles
Planetary frames
Sub-frames
Valve housings
Pump housings
Steering housings
Transmission housings
Brackets
Battery box frames

History

CITIC Investment Holdings Limited sold 57.89% of the company's shares for CNY 5.5 billion, and completed the reorganization of the company in January 2020.

Apr. 1988 The Company was established by China International Trust & Investment Corporation, a Chinese statutory investment and financing company, through an introduction from Hong Kong capital. (China International Trust & Investment Corporation is now called the CITIC Group.)
Apr. 1990 The Company started commercial production of aluminum wheels.
1996 The Company and Good Concept Holdings Limited jointly established SMX Dicastal Wheel Manufacturing Co., Ltd.
Aug. 2000 The Company started supplying its products to Audi.
Feb. 2001 The Company started supplying its products to Guangzhou Honda.
2002 The Company formed technical alliances with Asahi Tec Corporation of Japan; and Speedline of Italy.
2002 The Company, Jiangsu Jinxiu Aluminum Co., Ltd., and Asian Investment & Development of the U.K. jointly established Wuxi Dicastal Wheel Manufacturing Co., Ltd.
Nov. 2002 The Company and Lizhong Wheel Group Ltd. of Singapore jointly established Qinhuangdao Dicamry Wheel Co., Ltd.
Jan. 2003 The Company and the Xinglong Group jointly established Qinhuangdao Dicastal Xinglong Wheel Manufacturing Co., Ltd.
Oct. 2003 The Company, Asahitec, and Wheel Horse Aluminium Alloy Casting Co., Ltd. of Hong Kong jointly established Guangzhou Dicastal Asahi Aluminum Co.,Ltd.
2003 The Company started supplying its products to GM and Ford.
Sep. 2004 The Company and the Xinglong Group jointly established Qinhuangdao Dicastal Xinglong Forged Wheel Manufacturing Co., Ltd.
Dec. 2005 The Company was designated as a global strategic supplier of Ford.
Jul. 2006 The Company was designated as a global strategic supplier of GM.
Oct. 2007 The Company and the Sanhua Group and the Jinbei Auto jointly established Shenyang Sanhua Dicamry Wheel Co., Ltd.
Oct. 2007 The Company and Lizhong Wheel Group jointly developed Tianjin Dicastal Wheel Manufacturing Co., Ltd.
Dec. 2007 The Company acquired a 20 percent equity share in Binzhou Movever BBS Hub Co., Ltd. from BBS of Germany. The Binzhou company thereby adopted a new corporate name, Binzhou Movever Dicastal Hub Co., Ltd.
Sep. 2010 The Company established Chongqing Dicastal Jieli wheel manufacturing Co., Ltd.
Dec. 2011 The Company acquired KSM Castings of Germany.
Jul. 2012 The company changed its name into CITIC Dicastal Co.,Ltd.
Nov. 2013 KSM Qinghuangdao Auto Parts Manufacturing Co., Ltd. was established.
Dec. 2013 Citic Dicastal Ningbo Wheel Manufacturing Co., Ltd. inaugurated its aluminum alloy wheel production line.
Aug. 2014 KSM Qinghuangdao Auto Parts Manufacturing Co., Ltd., a subsidiary of the Company, launched operation of a machining line. The first lot of prototypes of engine cylinder heads rolled off the production line on the same day.
Sep. 2014 The Company announced that it will invest USD 140 million to establish a 3-million units aluminum wheel plant in Greenville, Michigan, U.S.A., which will become the company’s first production base outside China.
Jan. 2015 The Company announced that it held a signing ceremony for its new strategic alliance with Siemens.
Feb. 2016 The Company completed the construction of machining lines and painting lines at its new plant in Michigan, U.S. and began production.
Apr. 2016 MX Dicastal Wheel Manufacturing Co., Ltd., a subsidiary of The Company, broke ground for its new plant that will produce 4 million lightweight aluminum alloy wheels per year.
Oct. 2016 Wuxi Dicastal Wheel Manufacturing Co., Ltd., a subsidiary of The Company, began producing lightweight wheels at its new plant.
Nov. 2016 The Company broke ground for CITIC South Intelligent Manufacturing Industrial Park in the Wangcheng National Economic and Technical Development Zone in Changsha, Hunan Province.
Jan. 2017 Dicastal KSM Chengdu Auto Parts Co., Ltd., which is a wholly owned subsidiary of The Company, commenced production at its new factory in the Tianfu New Area in Chengdu, Sichuan Province after completing the first phase of its construction project.
Jul. 2018 The Company signed an investment with Minister of Industry and Investment Morocco to invest EUR 350 million for the production of aluminum rims.
Mar. 2019

The Company established "Dicastal UACJ Bolv Automotive Parts Co., Ltd."  with UACJ Corporation and CITIC BOHAI Aluminum Industries Holding Company Limited.

Dec. 2019 CITIC Industrial, Ningbo Industrial and investors have agreed on a deal, in which CITIC Industrial and Ningbo Industrial will sell 57.89% of shares in CITIC Dicastal Co., Ltd. (CITIC Dicastal) to investors at a price of CNY 5.5 billion.

Supplemental Information 1