ACQUISITION: LISI Buys 2nd Fastener Maker in China

Jason Sandefur

The LISI Group of France acquired threaded fastener maker Yizhong’s Fasteners Co. of China and renamed it LISI Automotive Shanghai.
The Shanghai plant is a subsidiary of the Hong Kong-based joint venture set up in 2007 between LISI Automotive (75%) and Shanghai Yankang Automotive Components (25%). The venture employs 100 people and has a turnover of EUR 3 million (US$4.7 million).
LISI Automotive Shanghai specializes in cold-forged screws and nuts, and will produce safety components for LISI Automotive’s component supplier customers with branches in China.
The latest acquisition strengthens LISI’s position in the Chinese automotive market.
In addition to the Shanghai facility, LISI Automotive Beijing specializes in clipped fasteners.
LISI is a worldwide leading manufacturer of fasteners and assembly components for the aerospace, automotive, and fragrance-cosmetics industries. LISI employs 3,000 people at 18 production facilities (six in France, seven in Germany, two in the Czech Republic, one in Spain and two in China) and reported LISI Automotive revenue of EUR 407.1 million (US$635.3 million) in 2007. Web: lisi-group.com \ �2008 FastenerNews.com