It was announced yesterday (30 October 2019) that ATC Drivetrain (ATC) launched a joint venture with Luwote (Zhangjiagang) Power Remanufacturing Technology Co., Ltd. in China.
ATC Drivetrain is a world leader in the remanufacturing of transmissions and engines and related components for light-, medium-, and heavy-duty vehicles. As the growing customer base of ATC's products and services grows in China and around the world, the venture with Luwote in Zhangjiagang, China, is a strategic move: "The joint venture will focus on providing a local solution for the remanufacturing of automotive engines and transmissions for ATC's existing global customer base in China as well providing local automobile manufactures with the highest quality remanufactured engines and transmissions in the China market. ATC is the majority partner in the JV with a 72.5% ownership stake and brings over 80 years of remanufacturing experience as well as state of the art manufacturing processes and engineering knowledge to the joint venture. Luwote will own 27.5% of the joint venture and provides local market expertise."
You can read the full press release about ATC Drivetrain and Luwote's venture here.
Read more on ATC Drivetrain in the December issue of Rematec News Magazine.