China Group Buys Majority Stake in German Lightweighting Specialist

China’s Fosun International Ltd. and its Nanjing Nangang Iron & Steel United Co. joint venture unit have acquired an unspecified majority stake in Germany’s Koller Beteiligungs GmbH.

Koller produces injection molding composite parts and pressing tools at plants in Germany, Hungary and Mexico. Customers include Audi, BMW, Mercedes Benz, Land Rover and Volkswagen.

Through their investment, Fosun and Nanjing Nangang aim to expand Koller’s business into Asia. In 2014, Hannover Finanz GmbH acquired 75% of Koller with the founding family members remaining in senior executive positions.

Nanjing Nangang is 60% owned by three Fosun subsidiaries, with the remaining 40% owned by Nanjing Iron and Steel Group.