Date: 2013-07-31

Changchun Fudi Equipment Technology Development Co. LTD. Signed an Agreement with Magneti Marelli on Establishment of A Joint Venture

Magneti Marelli and Changchun Fudi Equipment Technology Development Co. LTD. (Fudi), a Chinese manufacturer of automotive components and systems, have signed an agreement to set up a joint venture (JV) aimed at the production of automobile components, specifically powertrain systems.

According to the agreements, Magneti Marelli will own 51 percent of the capital of the new company called Changchun Magneti Marelli Powertrain Components Co. Ltd., while the Chinese partner will hold the remaining 49 percent.

The industrial facilities for the new JV will be located in Changchun, in northeastern China, one of the strategic areas for the automotive sector in that country, where leading Chinese companies in the sector also have their plants. In particular, the JV will settle in the economic and technological development area of Chaoyang, where Fudi can count on a longstanding industrial presence, the company says.

The JV will specifically deal with the production of intake manifolds, throttle bodies, fuel rails and air/fuel modules for automotive applications, aimed primarily at Chinese carmakers operating in the area, such as, for example, FAW.

Production is expected to start at the end of the year, and once the JV is operating at full speed, it will reach a maximum production capacity of approximately 1.7 million intake manifolds and 1.2 million throttle bodies a year. The plant will employ a workforce of about 300 employees.

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