Geely acquired Australian parts supplier DSI yesterday
By Reuters report, Geely said on Friday it had acquired Australian automatic transmission supplier Drivetrain Systems International (DSI).
Under the agreement, Geely will help fund DSI’s research and development capacity and maintain its leading position in the global automatic transmission market, the Chinese firm said in a statement.
DSI, with an annual capacity of 180,000 automatic transmission systems, supplies parts to Ford Motor and Ssangyong Motor Co.
But the Australian company entered bankruptcy proceedings in February as the global industry downturn weighed on some of its clients, Geely said in the statement.
No financial details of the transaction were provided.
Geely, which is trying to shake off its image as a purveyor of low-priced cars, is one of several ambitious Chinese automakers keen on expanding into developed markets.
DSI Landscape
DSI World Class automatic transmission technics
DSI Pedigree
[source: Reuters]
Tags: automatic transmission, DST Pedigree, Geely Acquired DSI, low-priced cars, Ssangyong Motor
