ArrowArtboardCreated with Sketch.Title ChevronTitle ChevronEye IconIcon FacebookIcon LinkedinIcon Mail ContactPath LayerIcon MailPositive ArrowIcon PrintTitle ChevronIcon Twitter
Business

Nifco to buy German autoparts supplier KTW

TOKYO -- Japanese autoparts manufacturer Nifco will acquire German peer KTW to increase its dealings with European automakers.

     The two companies are expected to reach an agreement on Tuesday. Under the deal, Nifco will likely buy all shares in KTW for 7 billion yen to 10 billion yen ($67.5 million to $96.5 million). The acquisition is seen taking place in May or June.

     KTW generates some 8 billion yen in annual sales by making plastic parts, mainly for BMW. Considering it does not have any production sites outside Germany, Nifco's overseas sales network will be tapped to market its products to European automakers outside of Europe. Construction of KTW factories in North America and elsewhere will be considered as well.

     Nifco is a major manufacturer of plastic fasteners used to secure automotive interior parts. The company expects sales of 180 billion yen for the year ended March 31, up 29% from the previous year. Nifco deals mainly with Japanese and South Korean automakers, with sales to European automakers accounting for only about 5% of the total.

     Nifco acquired Germany's KTS, a major supplier to Volkswagen, last spring.

(Nikkei)

Sponsored Content

About Sponsored Content This content was commissioned by Nikkei's Global Business Bureau.

You have {{numberArticlesLeft}} free article{{numberArticlesLeft-plural}} left this monthThis is your last free article this month

Stay ahead with our exclusives on Asia;
the most dynamic market in the world.

Stay ahead with our exclusives on Asia

Get trusted insights from experts within Asia itself.

Get trusted insights from experts
within Asia itself.

Try 1 month for $0.99

You have {{numberArticlesLeft}} free article{{numberArticlesLeft-plural}} left this month

This is your last free article this month

Stay ahead with our exclusives on Asia; the most
dynamic market in the world
.

Get trusted insights from experts
within Asia itself.

Try 3 months for $9

Offer ends October 31st

Your trial period has expired

You need a subscription to...

  • Read all stories with unlimited access
  • Use our mobile and tablet apps
See all offers and subscribe

Your full access to Nikkei Asia has expired

You need a subscription to:

  • Read all stories with unlimited access
  • Use our mobile and tablet apps
See all offers
NAR on print phone, device, and tablet media

Nikkei Asian Review, now known as Nikkei Asia, will be the voice of the Asian Century.

Celebrate our next chapter
Free access for everyone - Sep. 30

Find out more