ZMJ acquires Robert Bosch Starter Motors Generators

ZMJ ((Zhengzhou Coal Mining Machinery Group Co., Ltd.)) already operates in the automotive supply sector via various investment holdings. For starters and generators, as well as in its capacity as a manufacturer of engine components for commercial vehicles and passenger cars, ZMJ is a major Chinese automotive supplier. As ZMJ’s long-standing business partner, the financial investor CRCI ((China Renaissance Capital Investment)) will support the company in this acquisition as well. The purchase agreement was signed by Bosch, ZMJ, and CRCI on May 2, 2017. It has been agreed that the purchase price will not be disclosed. Consummation of the transaction is subject to approval by the antitrust and other official authorities, as well as to the associates at the German locations consenting to the transfer to a new company. The purchaser intends to take on all the just under 7'000 SG associates, as well as all the SG locations. Bosch and the German employee representatives’ negotiating team have now reached an agreement that supplements the original agreement with provisions relating to the purchaser. “We have achieved our goal and found a purchaser offering a viable industrial concept and a long-term perspective for successfully taking this business forward internationally, and thus for associates,” says Dr. Rolf Bulander, chairman of the Mobility Solutions business sector and member of the management board of Robert Bosch GmbH. Commenting on the sale, he says: “I am confident that, in this new constellation, the division can seize its opportunities for a positive future.”