NEWS
ESKA acquired by Taiwan’s Boltun Group
ESKA Automotive GmbH has announced that its owners have sold their shares to Taiwanese group Boltun/QST with the change of majority ownership effective on 4th
August. E On 25th
SKA’s brief, formal announcement, explained that the sale reflected the lack of direct family succession and the need to develop the company’s global presence. CEOs Klaus Gruber and Winfrid P. Stoffel previously
owned the company. Mr Stoffel is understood to have been retained in a consultancy capacity. China Fastener World reports that Boltun invested 45 million
euros indirectly through two equity firms and Boltun Europe Holdings GmbH & Co is to acquire 85.7% of ESKA shares. ESKA’s 2013 revenue was stated to be around 75 million euros with adjusted profits of 2.82 million euros. The report quoted a Boltun spokesperson as saying that ESKA had been its customer for a long time but that the overlap in customer base was relatively low as ESKA supplies automotive OEMs and Tier suppliers whereas Boltun supplies primarily to distributors. ESKA was founded in 1881 and according to its website has close to 400 employees in two German production facilities,
in Chemnitz and Bärenstein. It operates as a full service partner to numerous well known car manufacturers. Boltun Group, comprising Boltun Corporation and QST
International Corporation, is a major Taiwanese owned manufacturer of fasteners with some 3,000 employees worldwide. Majority ownership rests with founder Mark Wu and his family, which started Boltun Corporation in Tainan in 1988 manufacturing automotive weld nuts. In 1996 Mr Wu became chairman of QST Holding merging four companies into QST International Corporation. QST was listed on the Taiwan TWO exchange from 2006. In 2011 the Group recorded sales of TW$10 billion (approximately 255 million euros) for the first time. Boltun Group has eight locations in Taiwan, nine in China, and also has logistics operations in Thailand and the United States of America. 80% of Group turnover is now automotive related, with 40% of sales coming from Europe, and 30% each from Asia and America.
Shanghai Prime completes Nedschroef acquisition
August
4-traders.com quoted Sinocast as confirming that Shanghai Prime Machinery (SPM) has completed its takeover of Koninklijke Nedschroef Holding B.V for approximately CNY 2 billion (246.9 million euros).
at CNY 37.6 million on sales of CNY 1.68 billion (0.6% down year-on-year). SPM also notified its intentions to dispose of Shanghai Dalong Machinery Works Company, a manufacturer of air compressor systems and pumps.
T Würth first half sales exceed 5 billion euros
The Würth Group generated overall sales of 5.02 billion euros in the first half of 2014, equating to year-on-year growth of 2.8%.
E 14
xcept for Italy, Würth reported, all of its ‘problematic countries’ succeeded in generating growth again. There are clear signs, Würth says, that Spain has bottomed out, generating sales growth of 9% year-on-year.
Würth Group’s operating result showed clear improvement.
A half year result of 235 million euros was 14.6% up on the same period 2013. Robert Friedmann, chairman of the central managing board of the Würth Group, said: “We want to close the year 2014 with a new sales record. Although the focus of our business activities is on
Europe, the strong euro has a negative impact on the development of sales. However, we do not expect further negative influences in the second half of the year.” “The good order situation of our customers and the economic
development are a tailwind for us and we are therefore looking optimistically at the second half of the year,” Friedmann added. The number of Würth employees increased by 2.1% to reach 64,891 at the end of the first half of 2014. In Germany, the Group employs 19,744 people.
he report noted that SPM recorded profits of CNY 67 million last year compared with Nedschroef’s CNY 108 million equivalent. SPM estimates that combined operating incomes will amount to CNY 7.81 billion and net profits CNY 109 million after consolidation. Previously SPM had reported its first half 2014 profits were down 21% year-on-year
Fastener + Fixing Magazine • Issue 89 September 2014
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