BAIC buys WEIGL factory
Published February 23, 2011
Industry News | CCTFebruary 23, 20117:39 pm
WEIGL, a Swedish gearbox manufacturer, has fallen under BAICs control in the latest acquisition by the State owned car manufacturer. WEIGL was born from the ashes of the GM Powertrain Transmission plant in Gothenburg, Sweden and became a privately owned company, for unknown reasons WEIGL has been sold onto Beijing Auto Industry Corporation.
BAIC paid 31 million Euro for the manufacturer which included the factory, production equipment and IPR to the range of gearboxes that are produced by WEIGL.
After their purchase of the Saab 9-3 and Saab 9-5 platforms, BAIC are eager to hasten the production of the models in China for local consumption under the reborn Beijing Auto brand. BAICs chairman, Wang Da Zong, was quoted as saying by Netease as saying that the brand will launch the Saab based models within the year and will be mid to high end vehicles.
The factory that BAIC bought belongs to the German WEIGL group who supplies large quantities of gearboxes to GM, and has a high level of quality.
According to early information, the deal includes F25 and F35 gearboxes as well as production lines and the all important IPR documents.
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- luck says:February 24, 2011 at 3:58 pm
- felipekai says:February 27, 2011 at 10:42 am
Great news!!Lets hope that Baic takes a good advantage of it!!!
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