BENTELER Automotive and ChanganAutomobile establish Joint Venture in Chongqing (China)

Salzburg/Paderborn/Chongqing, 07.07.2015. – German full-service supplier BENTELER Automotive and Changan Automobile Group Co. Ltd., which isone of the China’s top four automobile Groups, have established a strategic joint venture (JV) in China.

Both companies will have an equal 50 percent stake in the new JV, which is headquartered in Chongqing. The company – BENTELER JianAn Automotive (Chongqing) Co. Ltd, – serves to strengthen the economic and technological cooperation between both parties. It will focus on research, development and manufacturing of structure and chassis components as well as chassis module systems providing the ability to compete both in the People's Republic of China (PRC) and globally.

In addition to the headquarter in Chongqing, the JV plans to set up a research and development center in Chengdu, as well as production facilities in Chongqing, Harbin and Shenzhen. With an expected turnover of at least 2 Billion CNY by 2019 (approx. 322 million USD), the JV will employ over 2,400 people across different locations. The new company will supply ChanganAutomobileand ChanganJVs (Ford, PSA, Suzuki) as well as other major OEMs.

About Changan Automobile Group

China Changan Automobile Group Co., Ltd. (hereinafter referred to as China Changan or Changan Group) was established on December 26, 2005. It is a large enterprise formed by China South Industry Group and China Aviation Industry Group – bothworld's top 500 enterprises under China central government. Changan Group is one of China's top four automotive groups, with the headquarter located in Beijing. Changan Group operates three major industry businesses into: vehicle and power assembly, parts, business services. Changan Group is in-depth cooperation with Ford, Mazda, Suzuki, PSA Peugeot Citroen and other international well-known automobile manufacturers in vehicle field; It established a wide range of joint venturecooperationin component field, such us TRW, Mitsubishi, Showa, Air International Group, GKN, Faurecia and etc. In 2014, the vehicle sales of Changan Group reached 2,547,800, with an increase of 18.55%.

About BENTELER-Group and BENTELER Automotive

The BENTELER-Group stands for excellent material, manufacturing and technology expertise in the areas of AUTOMOTIVE, STEEL/TUBE and DISTRIBUTION. The family-owned company looks back on almost 140 years of success and is now in the fourth generation. The group has about 30,000 employees at 170 locations in 37 countries.

BENTELER Automotive develops and produces ready-to-install modules, and parts for body, chassis, engine & exhaust systems in 28 countries. BENTELER Automotive is present in China with 9 state of the art plants, offering the entire company product portfolio.