Guangdong Haomei New Materials Plans Joint Venture in Morocco

MT Newswires

Guangdong Haomei New Materials plans a joint venture with Lingyun Industrial to establish a production base in Tangier, Morocco, according to a Tuesday filing with the Shenzhen Bourse.

The JV, with a registered capital of 100 million yuan, will manufacture battery casings, body structures, and high-strength roll-formed components for European and North African markets.

Haomei will hold 49% equity via a Hong Kong subsidiary, while Lingyun will hold 51%. This strategic move aims to localize supply, enhance competitiveness, and expand into European markets.

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Ling Yun Industrial Ties Up With Haomei New Materials to Set Up Moroccan Venture

MT Newswires

Ling Yun Industrial partnered with aluminum profile manufacturer Guangdong Haomei New Materials to establish a 100 million yuan joint venture in Morocco, according to a Shanghai Stock Exchange filing on Tuesday.

The venture, to be named Morocco Esther Automotive Industry, will serve as a production base for European and North African markets for new energy batteries, auto body structural parts and high-strength rolled parts for automobile giants such as BMW, Mercedes-Benz, Ford and Volkswagen.

The Chinese automobile components manufacturer will own 51% of the venture through its subsidiary, Aster Automobile Holdings, while Haomei New Materials will own 49% after investing 51 million yuan and 49 million yuan, respectively.

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Guangdong Haomei New Materials Plans Joint Venture in Morocco

Ling Yun Industrial Ties Up With Haomei New Materials to Set Up Moroccan Venture

Risk Disclosure