Ningbo Jifeng completed the acquisition of The Grammer Group for $893m.

Ningbo Jifeng, an auto supplier, completed the acquisition of The Grammer Group, a German-based manufacturer of components and systems for automotive interiors, for $893m. "With this acquisition, we are confident of improving our position in the Northern American market substantially and, thus, of gaining even better access to American customers. At the same time, it will allow us to expand our technological skills and product range. Both of these measures will open up further growth potential for us in the United States and Asia," Hartmut Müller, Grammer Chief Executive Officer.