Last week, China Sichuan Bochum Industry Group and Canadian auto parts manufacturer Wescast Industries signed an agreement to complete the acquisition of the latter at a price of nearly US$200 million. Gasgoo.com reported on June 8 that according to Reuters news, China’s Sichuan Bochum Industrial Group signed an agreement with Canadian auto parts maker Wescast Industries last week to complete the acquisition of the latter at a price of nearly US$200 million. It is reported that Bochum Industries will eventually complete the acquisition of Wescast at a cost of 195 million Canadian dollars (about 190 million US dollars). The transaction is completed in the second half of this year or the first half of next year. Wescast is the world's largest supplier of cast iron exhaust pipes for passenger cars and light trucks. Headquartered in Brantford, Ontario, Canada, Wescast supplies components for the passenger and light truck markets in North America, Europe, Asia, Africa, South America and Australia. CNG Compressor,Gas Compressor,CNG portable gas station Boyang Compressor Co.,LTD , http://www.bycompressor.com
The two sides started negotiating acquisitions from last year until they signed an agreement last week. Earlier, Bochum Industrial offered 180 million Canadian dollars (about 175 million U.S. dollars) to pay off Wescast's debt, but according to the latest agreement, the amount has been reduced to 145.6 million Canadian dollars (about 142 million U.S. dollars).
The largest exhaust pipe Wescast was acquired by Sichuan Bohong