Grammer AG and Yuhua Establish Joint Venture for Bus Seats in China
04 January 2013
www.chinabuses.org: Grammer AG and Jiangsu Yuhua Automobile Parts Co. Ltd., a well-established Chinese supplier of Components and systems for commercial vehicles and passenger cars, earlier today signed an agreement to establish a joint venture for the production and distribution of truck and bus seats in China. 60% of the new joint corporation Grammer Seating (Jiangsu) Co. Ltd., located in Jiangyin, China will be held by Grammer AG. Yuhua has a 40% stake.
The new joint venture offers Grammer a quick and long-lasting entry in theworld biggest market for commercial vehicles and is therefore another important milestone of Grammer's growth strategy.
Yuhua provides a new manufacturing location and will, among other things,
also bring its existing truck-seat business and a well-established customer base into the joint venture. Together with its partner Yuhua, Grammer now is able to produce market-specific seat-types locally and distribute them to local and international customers.
Source : www.chinabuses.org
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