(IN BRIEF) Schaeffler AG has signed an agreement to sell its Chinese turbocharger business, operating under Vitesco Automotive Shanghai Co., Ltd., to Chengdu Xiling Power Science & Technology Incorporated Company. The move is part of Schaeffler’s broader portfolio streamlining initiative … Read the full press release
Posted in Business, Electronics & Machinery, Germany, Industrial, Investment, Management, News, Technology
Tagged acquisition, automotive industry, business restructuring, Chengdu Xiling Power Science & Technology, CHINA, divestment, Klaus Rosenfeld, mobility strategy, portfolio streamlining, regulatory approval, Schaeffler Advances Strategic Realignment with Sale of Chinese Turbocharger Operations, Schaeffler AG, Schaeffler Capital Markets Day, Schaeffler Transfers Declining Turbocharger Unit in China to Chengdu Xiling Power, turbocharger business, Vitesco acquisition, Vitesco Automotive Shanghai, Vitesco Technologies, Xiling
STUTTGART, 24-Jan-2017 — /EuropaWire/ — The Bosch Group and the MAHLE Group have decided to seek a buyer for their joint venture, Bosch Mahle Turbo Systems (BMTS). The joint subsidiary was founded in 2008. With a total of around 1,400 … Read the full press release
Posted in Automotive, Business, Germany, Management, Technology
Tagged BMTS, Bosch Group, Bosch Mahle Turbo Systems, The MAHLE Group, turbocharger business, turbocharging
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