Clearwater International advises the founder of FINOBA AUTOMOTIVE GmbH on the sale to Chinese Automotive Engineering Corp.
Clearwater International has advised the founder of FINOBA Group, including FINOBA AUTOMOTIVE GmbH (FINOBA), on the sale of 100% of the share capital to Chinese Automotive Engineering Corp. (AE), a subsidiary of Sinomach Group (China National Machinery Industry Corp.).
Founded in 1996 and headquartered in Baunatal-Hertingshausen, Germany, FINOBA is the only fully-integrated European processing and machining specialist for lightweight aluminum and magnesium based die-casted components for large-series production of automotive chassis and powertrain parts. FINOBA generated sales of approx. €50m in 2015 and employs approx. 450 people at four highly automated production facilities located across Germany.
FINOBA’s competencies include trim pressing, manual processing, heat treatment, deburring, truing, machining, mounting, impregnation, washing, pickling passivation and quality control, offering a one-stop-shop solution to leading OEMs such as the VW Group, BMW and Daimler.
Sinomach, established in 1997, is a state-owned enterprise, directly managed by the Chinese central government. Sinomach is a Fortune Global 500 company. Headquartered in Beijing, China, the group has 110,000 employees, over 40 wholly-owned or majority-owned subsidiaries, 10 listed companies, and more than 180 overseas service agencies.