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QST Sees Growth in China's Car Market and Expands Investment in Boltun BVI
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2014-04-16
China's car market growth driven by 1.2 billion population is looking good to the eyes of the world. Fastener manufacturing and distributing giant QST International Corp. decides to expand investment in China by increasing shareholding ratio to Boltun BVI. The efficacy of long-term investment can be expected.
QST originally holds 19.21% share of Boltun BVI. It plans to purchase 25.79% share of Boltun BVI from Boltun Corp. at the price of USD 19 million. After the purchase, QST's shareholding ratio will rise to 45%.
Boltun BVI is a holding company controlling 100 % share of Xiamen Boltun Metal, Xiamen Boltec, Xiamen Bolwir and Xiamen Bolmac. The 4 companies mainly produce high end industrial fasteners, of which 70-80% are automotive fasteners, and own one stop and streamlined production process. Products include all sorts and sizes of screws and nuts, and materials range from pickling, spheroidizing, line drawing, cold & hot forging, stamping, machining, heat treatment, plating, painting, sorting and assembly of finished products. All process is completed in plant. Production scale is pre-arranged to cope with the increasing demand of Chinas' car market in the next few years. The four plants' revenue in 2013 was RMB 420 million, in 2013 it reaches RMB 420 billion. Due to the vibrant China's car market, the artificial person estimates the market to set more records in 2014. With the increasing shareholding ratio, QST will reap more from its investment efficacy.
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