Autoneum to acquire Chengdu FAW-Sihuan Automobile Interior Parts for $19m.

Autoneum, a manufacturer in vehicle acoustic and thermal insulation, agreed to acquire Chengdu FAW-Sihuan Automobile Interior Parts, an automotive supplier for acoustic and thermal management, for $19m. “The acquisition is in line with our corporate strategy Level Up and marks another important step in implementing our strategic pillar Accelerate global growth. By adding further local Chinese car manufacturers to our customer portfolio, this latest takeover, together with the acquisition of Jiangsu Huanyu Group, will bring us even closer to our medium-term target of generating 20 percent of Group revenue in Asia,” Eelco Spoelder, Autoneum CEO.