China’s Joyson Acquires Majority Stake in Preh
BAD NEUSTADT, Germany - Following the launch of a sucessful joint venture in China last year, Joyson Investment Holding C.o, Ltd, parent company of local supplier, Joyson took a majority stake in Preh GmbH, a privately owneed automotive electronic suppliers.
Joyson will have a stake of 74, 9, while currenty owners, Preh Management and Deutsche Beteiligungs AG remain minority owners. "Continuity for customers and employees is assured as Preh management will continue to control and further expand from Bad Neustadt the global activities of Joyson and Preh in the automotive electronics market. " - says an official press release by Preh.
Dr. Michael Roesnick, CEO of Preh GmbH stated, “China has more and more developed into the decisive engine for the global car industry. Therefore, the joint venture with Joyson was a logical next step in our global strategy, starting with our facilities in Portugal, Mexico and Romania, finally leading us to China. Joyson’s cooperation in the joint venture has led them to make a commitment to Preh, representing a great opportunity for us. Together with the majority partner Joyson, Preh will substantially improve its market position and open new market opportunities, particularly in China"
Founded in 1919, Preh is a globally operating group of enterprises with more than 2,500 employees in Germany, Portugal, Mexico, the U.S.A., Romania and China. Preh is headquartered in Bad Neustadt a.d. Saale. The company achieved revenues of €351 million in 2010. Preh’s development and production competencies focus on vehicle interior control systems, sensor systems, electronic control units and assembly systems for the world’s leading vehicle manufacturers.
Joyson Automotive is part of Joyson Group, Ningbo (China) which, besides its automotive unit, also has a real estate division, and in 2010 with 1,800 employees achieved total sales of €198 million. Joyson Automotive comprises the operating companies Joyson Automotive Ningbo, Changchun Joyson, Bosen Corporation Ningbo and Huade Plastics Shanghai. It achieved total sales of € 125 million in 2010.
The Deutsche Beteiligungs AG (DBAG) is one of the leading German private-equity companies. It invests in successful companies which play a dominant role with its products and services in their respective markets. DBAG has been stock-listed since 1985 and funds its investments from its own and parallel sources. It manages assets with a value of about €900 million.