Autoneum acquires Chengdu FAW-Sihuan Automobile Interior Parts

(CONNECT) The Winterthur automotive supplier Autoneum has signed an agreement to fully acquire Chengdu FAW-Sihuan Interior Parts Co., Ltd., an automotive supplier for acoustic and thermal management in China. According to a press release, it is intended to continue operating the Group under the Chinese company names, though from an organizational perspective it will be fully integrated into Autoneum’s Business Group Asia. The transaction, which is scheduled to close in July 2025, aims to further expand Autoneum’s customer base in China.

As per the press release, Autoneum is acquiring Chengdu FAW-Sihuan Group for a purchase price of around 16 million Swiss francs, excluding cash and cash equivalents and debt. Together with the recently completed acquisition of Jiangsu Huanyu Group, Autoneum is thereby gaining access to Chinese vehicle manufacturers such as FAW-VW, FAW-Audi, FAW-Toyota and Geely. “By adding further local Chinese car manufacturers to our customer portfolio, this latest takeover, together with the acquisition of Jiangsu Huanyu Group, will bring us even closer to our medium-term target of generating 20 percent of Group revenue in Asia,” explains Autoneum’s CEO Eelco Spoelder. 

According to information shared by Autoneum, Chengdu FAW-Sihuan Group was founded in 2011 and operates four production facilities with around 240 employees in the north, center and south of China. The company’s product portfolio is very similar to that of Autoneum and includes components such as floor insulators, trunk trims and hoodliners. In its last financial year, Chengdu FAW-Sihuan Group reportedly generated a preliminary revenue of around 27 million francs. The Group also projects strong growth for the coming years. ce/nta