Chinese investment company Fosun and its joint venture Nanjing Nangang Iron & Steel United Co Ltd has completed its acquisition of a majority stake in Koller Beteiligungs GmbH, a German lightweight automotive specialist headquartered in Dietfurt, Germany. It is the first overseas investment for Nanjing Nangang and the first overseas industrial investment in the automotive industry for Fosun.

Koller owns production facilities in Germany, Hungary and Mexico where it produces injection molding composite parts and pressing tools, including honeycomb sandwich panels for European automotive companies including Volkswagen, Audi, BMW, Mercedes and Land Rover.

‘We are pleased with this investment in Koller, a world leading lightweight innovative solutions provider to the automotive industry,’ said Guo Guangchang, Chairman of Fosun. ‘We highly respect Koller's ‘spirit of craftsmanship’, especially in providing solutions to reduce emissions and energy consumption. Environmental protection and energy saving are key global initiatives, especially in China. Lightweight technology could effectively decrease the energy consumption and promote sustainable development. I believe there will be greater demand for high quality and innovative lightweight products and solutions and we look forward to working closely with the Koller Group in bringing their products to these markets.’

This story is reprinted from material from Fosunwith editorial changes made by Materials Today. The views expressed in this article do not necessarily represent those of Elsevier.