·Lenny purchases 51% stake in Wuhan Hengtong into a Shenlong auto supplier
According to a comprehensive foreign news report, the German Lenny Group has acquired a 51% stake in Wuhan Hengtong Automotive Wire Harness Co., Ltd. Since then, Lenny, the leading supplier of wire harness systems in Europe, will become a component supplier to Dongfeng Motor Corporation and will use this as an opportunity to accelerate its development in the Asian market. Filling Sealing Machine,Filling And Sealing Machine,Cans Filling And Sealing,Cans Filling And Sealing Machine Zhoushan willman machinery technology Co.,Ltd , https://www.zhoushanwillman.com
Lenny and Hengtong have signed an acquisition contract a few days ago. According to the agreement, Lenny will hold a majority stake in the latter and become a component supplier to Dongfeng Motor. Moreover, the supplier will produce and supply wire harness systems for local Chinese automakers, especially Dongfeng Motor, China's second largest automaker. In the first phase of the project, Lenny will supply a wire harness system for Dongfeng and PSA's joint venture, Shenlong Automobile.
Located in Hubei Province, Wuhan Hengtong has a factory area of ​​over 13,000 square meters and employs nearly 1,000 people. Hengtong Auto Wire Harness is expected to have a turnover of 35 million Euros in 2016. Lenny said that the company's turnover will be raised to hundreds of millions of euros.
After the acquisition, the performance of Wuhan Hengtong will be fully included in the financial report of the Lenny Group. Lenny is expected to spend three months to complete the acquisition of Hengtong.