March 29, 2010

Chinese Automaker BYD To Buy Japanese Die Factory

Chinese carmaker BYD Co. will buy a plant from major Japanese metal die manufacturer Ogihara Co., according to Nikkei. BYD plans to manufacture high-precision metal dies at the plant for use in mass production at its Chinese-owned factories.

Ogihara was once the target for RHJ in 2002, but it turned out that Daiwa SMBC Principal Investment acquired the 46% stake with its proposal of an IPO in 2003. But Daiwa SMBC last year sold the 36% stake to Thai Summit Autoparts Industry Co., Ltd., a major autoparts maker in Thailand.

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