ZHANGJIAGANG, Jiangsu – Continental AG announced to acquire the Fugang Heli Electronics Co., Ltd. to raise its production capacity in China on September 5 2007.
The automotive electronics and brake division of Continental AG will be in charge of the acquisition. The official declaration does not indicate any financial details.
The major products of Fugang Heli include window regulators and cooling fan modules. The annual sales revenue of the company in 2006 reached ¥84 million.
“We acquired Fugang Heli in order to expand our production capacity and make it a new export base covering the Asian market,” said Karl-Thomas Neumann, CEO of Continental AG and president of Continental Automotive System.