Dongfeng Motor Acquires Wusu

Dongfeng Hongtai Holding Group Co., Ltd. (hereinafter referred to as “Dongfeng Hongtai”) of Dongfeng Motor fully acquired Wuhan Plastics Group (hereinafter referred to as “Wusu”) and built the largest automotive plastics in Central China at Wuhan Economic and Technological Development Zone. Parts base. After going through a six-year "long-distance love run," Dongfeng Hongtai and Wusu finally married together.

As the first listed company in the domestic plastics industry, Wusu's 24 years of ups and downs have once faced difficulties in delisting. In July of this year, Wusu was completely acquired by Dongfeng Hongtai after it was removed from the "shell" of the listed company. Dong Wei, deputy general manager and chairman of Dongfeng Hongtai Holding Group Co., Ltd. Liu Weidong, said that Dongfeng Hongtai is the second-tier section of Dongfeng Motor Co., Ltd. with the mission of building Dongfeng’s business unit that has the full value chain integrated supply capability of passenger vehicles. Accumulated development over the years, with a unique development model and faster development speed, has become Dongfeng's core supplier of strategic suppliers of passenger cars, showing good growth and development vitality.

With the formal entry and efficient integration of the assets, business and personnel of the company, Dongfeng Hongtai's product structure and business structure will be further optimized, and the synergy and scale benefits will further manifest. The Dongfeng Hongtai plastic parts business will surely usher in the future. New development opportunities.

It is understood that Dongfeng Hongtai after the full acquisition of Wusu, Wusu will become Dongfeng's first multi-species, professional, autonomous control of automotive plastic parts companies, to fill the gap in the production of automotive plastic parts. Data show that last year Dongfeng Hongtai sales revenue of 3.84 billion yuan, Wuhan Plastics as China's largest manufacturer of car parts and components of a variety of products, the output value of more than 1 billion yuan last year.

According to Dongfeng Company's plan, Xinwu Plastic will be built into the largest auto plastic parts base in Central China. The output value of 2017 is expected to exceed RMB 2 billion, with an annual output of 1.5 million plastic fuel tanks and 900,000 bumpers.