06-30-2017NewsChina Desk [EN]International [EN]

Heuking Kühn Lüer Wojtek advises on investment by Chinese Haowu Group in FEUER powertrain

A team led by Michael Neises, partner at Heuking Kühn Lüer Wojtek's Frankfurt office, advised the shareholders of FEUER powertrain GmbH & Co. KG on the sale of shares to Chinese Haowu Group.

As part of the transaction, Haowu Group will initially take a 50% holding in FEUER powertrain. As a next step an increased cooperation on the Chinese market is planned by the parties by forming a local joint venture. Further details of the transaction were not disclosed.

One of the key objectives of the partnership is the acceleration of growth in the entire Asian region by bundling know-how and production capacities. FEUER powertrain will mainly contribute its strong technological know-how and excellent access to European and U.S. premium OEMs, while Haowu Group's contribution will be its excellent access to the Chinese and other Asian markets and its experience in building and operating efficient production plants in China.

FEUER powertrain Group, headquartered in Nordhausen, Thuringia, is a leading OEM-independent crankshaft manufacturer for automotive and industrial engines and agricultural machinery. FEUER powertrain was founded in 2002 and currently has a combined production capacity of up to 2.5 million crankshafts per year. The company operates production facilities in Germany and the U.S. and an assembly plant in China.

Haowu Group is part of Chinese State-owned TEWOO Group, a Fortune 500 company with annual revenue of about EUR 70 billion. Neijiang Jinhong Crankshaft, one of the leading crankshaft manufacturers in the People's Republic of China, is also part of the Chinese group. 

Advisors to FEUER powertrain shareholders:
Heuking Kühn Lüer Wojtek:

Michael Neises (Lead, Corporate/M&A)
Frank Hollstein (Corporate/M&A), both Frankfurt
Dr. Frederik Wiemer (Antitrust), Hamburg
Jörn Matuszewski (Tax), Düsseldorf
Sen Gao (China Desk), Hamburg

Han Kun Law Firm (Ying Zhou/Jiaxin Liu, on Chinese law)

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