Successful milestone in internationalisation of corporate group
KRIFTEL, 30 May 2014. The Chinese company AVIC Electromechanical Systems Co., Ltd. has taken over 100% of the shares in Kokinetics GmbH, a leading manufacturer of seat components and transmission systems for the automotive industry, from Endurance Capital AG and Executive Management Group AG (EXMAG). Closing took place on 30 May 2014.
In 2011 Endurance and EXMAG jointly purchased Kokinetics under a management buy-in. The company was strategically repositioned at basic level and given a new international orientation by founding an engineering subsidiary in Detroit and taking over a Czech production plant.
Today Kokinetics is one of the leading producers of seat parts, seat mechanisms and transmission components in the automotive industry. Thus its customers include almost all international OEMs, including VW, BMW, Mercedes and GM, as well as the world’s leading suppliers and system providers. Along with its orientation towards the automotive industry, the company has developed further industrial customers and segments. These include related industries such as HGV, farm machinery, and railway technology, which are contributing to the company’s further diversification.
The present takeover represents a logical step in corporate development, both for Kokinetics GmbH and AVICEM, since the two companies complement each other ideally. Their collaboration will encourage a force for innovation which, combined with excellent project management, will create new market opportunities at global level.
Aviation Industry Corporation of China (AVIC), the parent group of AVIC Electromechanical Systems Co., Ltd., is one of the Fortune Global 500 companies, listed at place 212 in 2013. Its subsidiary, AVIC Electromechanical Systems Co. Ltd., is engaged in electrical engineering. With 28 subsidiaries, including four listed companies and more than 70,000 employees, AVICEM is a producer and supplier of electromechanical systems in the aerospace and automotive industries.
AVICEM will be relying on the workforce at Kokinetics GmbH under its current management and plans to continue marketing the company’s innovative product solutions under the Kokinetics brand. A global presence will be developed systematically and jointly. Dr. Andreas Stoltze, CEO of Kokinetics GmbH, will remain in his previous position and has concluded a multi-year contract with AVICEM.
Mainstrasse 6-10 • D-65830 Kriftel
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KOKINETICS GmbH, located in Kriftel near Frankfurt am Main, can look back on a long and successful history. The company, founded in 1890 and re-founded in 1946, made a name for itself after the Second World War as a supplier to the aerospace industry and a toolmaker. With the expansion of its seat-component, seat-mechanism and transmission divisions, the company came gradually to concentrate on the automotive sector. Today KOKINETICS employs 400 staff world-wide. From product development and prototype construction, to tool and jig making, to serial production, all product-relevant areas are covered directly in the company.
Its list of regular customers is international. Major automotive groups, such as BMW, Volkswagen, General Motors and Audi, trust to the high quality of KOKINETICS products, but the world’s leading suppliers and system providers also work together with the company.
Further information about KOKINETICS: www.kokinetics.com