TU-TESL

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On November 5, grammer (hereinafter referred to as "grammer") and Changchun Fusheng group (hereinafter referred to as "FAW Fusheng") signed an agreement in Changchun, and the two parties will establish a joint venture of auto parts in China. Under the agreement, Gramer will hold 50% of the new joint venture Changchun Fusheng Gramer vehicle parts Co., Ltd. and the remaining 50% will be held by FAW Fusheng. It is understood that the new joint venture will develop and produce all kinds of auto interior parts for FAW Group and its domestic and foreign partners. "Signing ceremony" from the perspective of the partners, one is one of the largest auto parts manufacturers in China, mainly producing and supplying relevant auto parts for FAW Group; the other is a century old German auto parts company, whose main business is the R & D, production and sales of passenger car seat headrest, armrest, central control system and commercial vehicle seat system. Looking forward to the future, the new joint venture will strongly support grameer's growth goal in the Chinese market. In fact, grameer has never stopped expanding in the Chinese market. It has 6 production plants and 2 R & D bases in China. It not only develops and produces model matching products for Chinese independent brands, but also for German and international high-end engine plants in China. "By setting up a joint venture with Changchun FAW Fusheng group, our growth strategy in China has taken another crucial step." "Through close cooperation with Chinese brand OEMs, grameer has consolidated its position in the world's largest automobile market and greatly stimulated the growth of our business in the Asian market," said Thorsten seehars, chief executive of grameer