In recent days , MANN+HUMMEL formally acquired Handan Huanye Filter Co., Ltd. Yanye Filters Co., Ltd. currently has more than 500 employees and designs, manufactures and sells filter products and filter cartridges for the Chinese aftermarket and local host customers.
Shanghai, August 29, 2012 - MANN+HUMMEL Group formally entered into an agreement with Handan Filters Co., Ltd. in Handan to acquire 100% of this filter in China's filter city - Handan City, Anhui Province. Filter manufacturer. The acquisition has yet to be approved by the relevant authorities. Shanghai is 450 km from Shanghai, and Shanghai is the home of the German filter group in China.
It has been 16 years since the establishment of Handan Yiye Filter Co., Ltd., specializing in providing filters and filter elements that meet the requirements of the automotive independent aftermarket and local host customers. In 2011, the company’s turnover was approximately 110 million yuan.
MANN+HUMMEL entered China in 1996. For more than 10 years, MANN+HUMMEL has been committed to providing support for automotive OEMs and industry. It also provides leading filtration technologies and products for customers in the independent aftermarket. In the independent after-sales market, the company uses the high-end brand of MANN Filters to consistently provide filters of the same quality as the original car accessories to meet consumer demand.
“By gaining the industry’s product brand and market share, we will improve our product line for local vehicles, strengthen our presence in the mid-range market in China, and allow more local vehicles to use our products.†MANN+HUMMEL Mr. Josef Parzhuber, Group Vice President and Chief Executive Officer of Asia Pacific, stated that “China is a constantly changing market and it is full of opportunities for development. Being a leader in the filtration industry requires not only the latest technologies but also the needs of a specific customer segment. , to provide differentiated products, and to shorten the product launch cycle."
The acquisition of the industry is an integral part of the MANN+HUMMEL China strategy. Such a well-known local brand that focuses on local applications, has a considerable product line and a well-established distribution network, forms a very good strategic fit with the established layout of MANN-FILTER in the Chinese aftermarket.
In addition to providing aftermarket products, MANN+HUMMEL will be working on this new production base and is committed to tailoring competitive solutions for its own branded OEM customers based on market demand.
“The industry is like my child. I am very happy to give the industry company and its brand to world-renowned filter experts. I believe that this decision will accelerate the growth of the company and usher in a broader development prospect. I highly appreciate and agree with MANN+HUMMEL's corporate culture, and I will lead the company's entire management team to continue to manage and manage the business development of the industry.†said Ms. Fang Fang, founder and chairman of the industry.
China is one of the important strategic markets of MANN+HUMMEL. Currently, there are four production bases in Changchun, Shanghai, Jinan and Liuzhou in China. Successful acquisition of the industry means that MANN+HUMMEL has taken another solid step forward in its development in China. In the past ten years of development, MANN+HUMMEL’s growth in China has been remarkable. In 2011, China’s 1,100 employees created about half of sales in Asia. The Group’s goal is to increase the proportion of global sales in Asia from the current 17% to 25% by 2018. By then, the Group’s global sales are expected to reach at least EUR 3.4 billion.
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