Amsted Automotive forms Joint Venture with China’s HOFO to expand global PM capacity

Companies & MarketsNews
September 29, 2021

September 29, 2021

Burgess-Norton is a leading producer of Powder Metallurgy parts (Courtesy Burgess-Norton)

Amsted Automotive, a division of Amsted Industries formed through a merger of its Burgess Norton and Means Industries subsidiaries, has announced a joint venture with Anhui HOFO Mechanical and Electrical Co. Ltd, headquartered in Bengbu, Anhui Province, China. The new venture, named BN-HOFO Material Technology (Anhui) Ltd, will join the technology resources of Amsted Automotive’s Burgess-Norton business with HOFO’s manufacturing and technology base, expanding the reach of the company’s PM component manufacturing.

“The agreement combines Burgess-Norton’s more than sixty years of expertise in the design and manufacture of precision powder metal components with HOFO’s world-class facility in China and extensive engagement in the local market,” stated Jeremy Holt, president of Amsted Automotive.

The joint venture is said to address the existing demands of the local Chinese Powder Metallurgy market for large, complex components and the growing market for electric vehicle components. BN-HOFO is reported to have the largest PM press in China, which will enable Amsted Automotive to provide solutions for the rapidly emerging need for Powder Metallurgy materials and technologies in Asia, and with global customers.

It was stated that Burgess-Norton will have the unique opportunity to increase its reach into the domestic Chinese market with globally competitive PM technologies and materials, allowing Amsted Automotive to expand its footprint in Powder Metallurgy worldwide. The joint venture is hoped to be positioned to produce production-ready components in 2022.

www.amsted.com

Companies & MarketsNews
September 29, 2021

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