Zhejiang Meili High Technology completed the acquisition of ACPS for $75m.

Zhejiang Meili High Technology, a Chinese manufacturer specializing in high-end springs and precision automotive components, completed the acquisition of ACPS, a manufacturer of automotive tow hooks and trailer towing, for $75m. "The leadership emphasized that the deal helps the company build a global business model of mature markets in Europe and America + emerging markets in China. Synergy & Supply Chain: They noted that both companies share identical downstream customer resources (OEMs like BMW, Tesla, and VW) and use similar raw materials (high-end steel), allowing for complementarities along the industrial chain," Bihong Zhang, Zhejiang Meili High Technology Chairman.