Chinese state-owned group to acquire Germany's KSM Castings
Transaction expected at EUR300m
Chinese state-owned CITIC Dicastal Wheel Manufacturing Company has agreed to purchase German automotive supplier KSM Castings Gruppe, a manufacturer of high-specification aluminium and magnesium components mainly used in automotive chassis and powertrain applications, according to a company press release. KSM has four production sites in Germany, one in the Czech Republic, and one in northern China's automotive hub of Changchun.
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