COTESA (China) Composite Materials Co., Ltd. officially settled in China. On the morning of April 1, COTESA (China) held an unveiling ceremony in Changzhou, Jiangsu.
COTESA was established in 2002 in Saxony, Germany. After more than ten years of hard work, COTESA has become Germany's leading manufacturer of high-end carbon fiber composite materials in the aerospace and automotive engineering fields. Over the years, COTESA has not only maintained close cooperation with well-known aviation companies such as Airbus, Boeing, Airbus Helicopters, Bombardier, etc., but also provided composite parts for luxury car production lines of many world-renowned automobile manufacturers such as Maserati, AMG and BMW.
In the context of the global layout of Chinese capital and the acquisition of large enterprises in the world, COTESA also entered the perspective of Chinese capital. Multiple funds affiliated to investment institutions such as Overseas Chinese Fund, SDIC Innovation, Qifu Antai, and Mingde Investment participated in and jointly funded the establishment of the acquisition entity, and spent nearly a year acquiring all the equity of COTESA in Germany.
In September 2017, the two parties officially signed the acquisition agreement, and then the German government tightened the review of Chinese companies' acquisitions in Germany. During the six-month review period, the parties actively coordinated and cooperated. Finally, April 17, 2018 After receiving the "no objection statement" issued by the German government, this acquisition also became the first Chinese company to successfully pass the merger and acquisition case after the German government implemented the strict review policy.
After the completion of the transaction, COTESA has accelerated the pace of setting up Chinese companies. With the government's concern and the continuous efforts of investors and management, COTSA has settled in Changzhou and officially cooperated with COMAC C929 in just 10 months. .
COTESA (China) will bring Germany's superb industrial technology and talent training mechanism to play a great value in China, and bring new ideas for German Industry 4.0 to Chinese manufacturing. In addition, the continuous improvement of the Chinese market, the implementation of the China Made 2025 plan, and the mass production of domestically produced large aircraft have brought new opportunities for the development of COTESA.