China-based company acquires Century Automotive Mfg. Inc.
July 18, 2011 — China Auto Parts and Accessories Capital Holding Ltd. (CAPACH) recently announced the acquisition of Century Automotive Mfg Inc., a U.S. auto parts and components supplier.
The acquisition of Century, a company focused on chassis system integration and auto parts and accessories development, is meant to speed up the advancement of the automotive parts and components industry in China, according to a news release_notes on the deal.
“The China automotive industry has grown steadily in the past and now is on track to become a global auto making power,” said Zhang Houqi, CAPACH chairman and vice president of China Auto Parts and Accessories Corporation. “This transaction is an important step for the China automotive parts and components industry to achieve the goals of innovation and growth. Century Automotive has substantial global marketing capabilities and will greatly help to increase the value of China auto parts and components in world markets."
CAPACH is a capital and equity holding company with a leading position in the China auto parts industry, according to the news release. It represents thousands of auto parts and components companies in China.