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

-A Chinese supplier of aluminum wheels and chassis parts. The company mainly produces wheels for passenger cars, mini and light-duty commercial vehicles, and lightweight aluminum die-cast parts for automotive powertrains, chassis and body systems. Formerly known as Diahub Manufacturing Co., Ltd., the company was incorporated in October 2007 and officially renamed CITIC Dicastal Co., Ltd. in August 2012.

-The company has an annual production capacity of 80 million aluminum wheels and 120,000 tons of aluminum castings. Customers include Mercedes-Benz, BMW, Audi, Volkswagen, GM, Ford, Stellantis, Renault-Nissan-Mitsubishi, Toyota, Honda, Mazda, Hyundai-Kia, FAW, SAIC, Dongfeng, GAC, BAIC, Changan, Geely, Great Wall and BYD.

-In December 2019, the company's group headquarters, CITIC Group, sold 57.89% of the company's shares for CNY 5.5 billion, completing its restructuring.

-CITIC Dicastal has 29 major production facilities, 10 of which are outside China. Four are in Germany (Hildesheim, Wennigrode, Wuppertal, Radevormwald), one in the Czech Republic (Hradec), two in the United States (Greenville, Michigan and Shelby, North Carolina), two in Morocco (Kenitra), and one in Mexico (Saltillo, Coahuila).

-The company has more than 9,000 employees worldwide, of which approximately 3,000 are outside China.

-In 2023, CITIC Dicastal ranked 49th in the Automotive News ranking of global auto parts suppliers.

-In December 2019, the parent company, CITIC Group, sold its 57.89% stake in CITIC Dicastal for CNY 5.5 billion and completed the restructuring in January 2020. In December 2023, CITIC Group announced plans to list CITIC Dicastal independently on the Hong Kong Stock Exchange.

Shareholders

Unlisted (As of Dec. 31, 2023)

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

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Products

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

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History

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.
Jun. 2018	The company’s 6thaluminum wheel plant started operations.
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.
Jun. 2019	The first phase of the company's manufacturing site in Morocco was put into production.
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.
Apr. 2021	The “Daixiang Custom Wheels Project” at the CITIC South Intelligent Manufacturing Industrial Park started operations.
2021年8月	Acquired 9% of the shares of Dicastal UACJ Bolv Automotive Parts Co., Ltd. from UACJ Corporation.
2022年2月	Construction of new factory begins within the Atlantic Free Zone (AFZ) in Kenitra.
2023年11月	Opened Dicastal Morocco Castings (DMC) factory.