Autoneum, based in Winterthur, Switzerland, works in acoustic and thermal management for light and commercial vehicles. They develop and produce multifunctional, lightweight and sustainable components and systems for interior floor, interior trim as well as engine bay and underbody. Autoneum is represented in 25 countries, employs around 17,000 people, and operates 77 production facilities worldwide.
Last week, they announced their acquisition of a 70-per-cent stake in Chinese automotive supplier Jiangsu Huanyu Group. The buy, first announced last November, was completed with effect from 28 February this year, following approval by the authorities.
Autoneum also has the option to purchase the remaining 30 per cent of the share capital in 2028. Jiangsu Huanyu will continue to operate under its Chinese name.
Established in 2001, Jiangsu Huanyu operates 13 production facilities with about 1,200 employees near local vehicle manufacturers in the north, west and southeast of China, including the booming automotive hubs of Anhui and Shaanxi. Their product portfolio includes components for the vehicle interior such as carpets, inner and outer dashes, headliners, trunk and interior trim, wheelhouse outer liners as well as insulation for the engine bay and the underbody, offering strong potential for synergies with Autoneum’s current product offerings. In the 2023 financial year, Jiangsu Huanyu generated revenue of around €139m with a significant increase in 2024.
The takeover marks another milestone on the way to generating 20 per cent of Autoneum revenue in Asia in the medium term. Autoneum CEO Eelco Spoelder says, “Jiangsu Huanyu Group achieves over 90 per cent of its revenue with Chinese customers, making it an excellent strategic fit for Autoneum. We are gaining access to an established customer base in China, including several major Chinese vehicle manufacturers such as BYD, BAIC and GAC, and are thus significantly strengthening our position in the world’s largest automotive market. Jiangsu Huanyu Group’s presence and diversified product portfolio will also support the expansion of our commercial vehicle business in China and enable us to leverage further synergies in the areas of technology, manufacturing processes and purchasing”.
