23 December 2012

Grammer AG and Yuhua establish joint venture for truck seats in China

Amberg - 17 December 2012 – 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 the world 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. 

GRAMMER AG is specialized in developing and manufacturing components and systems for car interiors as well as driver and passenger seats for offroad vehicles, trucks, buses, and trains. Grammer is headquartered in Amberg, Germany. 

Source; Grammer