ANN ARBOR, Mich. -- Affinia Group Inc., a manufacturer of on- and off-highway replacement products, said Tuesday it plans to acquire 85 percent of HBM Investment Limited, owner of one of the world's largest drum and rotor manufacturing companies, Longkou Haimeng Machining Company Limited "Haimeng."
Haimeng expands Affinia's worldwide manufacturing capacity for brake components and continued market expansion through the company’s current OEM and aftermarket customer base in Asia and Europe.
Haimeng was founded in 1997 and operates more than 1 million square feet of manufacturing facilities in Longkou City, Shandong, China. The privately- held company employs approximately 2,300 in its state-of-the-art manufacturing facilities, complete with extensive research and development capabilities. Haimeng serves both aftermarket and original equipment manufacturers throughout Asia, Europe and North America.
Affinia anticipates that the Haimeng agreement will be completed by the end of the third quarter of this year.