Former Bosch Starter/Generator Business Gets New Name

China's Zhengzhou Coal Mining Machinery (ZCMM) Group and China Renaissance Capital Investment say they have completed the purchase of Robert Bosch GmbH’s former starter and motor generator division and renamed the business SEG Automotive.

Terms of the deal, which was announced last May, weren’t disclosed. Previous reports valued the sale at about €545 million ($652 million).

SEG Automotive employs 8,000 people at 16 locations globally. Most of the previous management team, led by CEO Ulrich Kirschner, have been retained. Jon Husby, who previously was vice president and general manager of customer business units for Harman International Inc., will head the new company’s North American operations in Novi, Mich.

SEG’s origins date to 1914 when Bosch introduced its first electric starter motor. SEG also makes stop-start systems and plans to add other electrified technologies.

ZCMM makes components for automotive and coal mining applications. The company was formed in 1958.