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January 22, 2015 01:00 AM

Chinese firm could pursue Henniges acquisition

Bloomberg News
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    DETROIT—Aviation Industry Corp. of China, the nation's biggest aerospace company, is among bidders pursuing an acquisition of U.S. car-parts maker Henniges Automotive Holdings Inc., people with knowledge of the matter told Bloomberg.

    State-owned AVIC, based in Beijing, could pay about $1 billion for Henniges, said two of the people, who asked not to be identified discussing private information. Other Asian companies have also looked at a purchase of Henniges, the people said, without naming them.

    A deal would follow AVIC's 2011 purchase of a controlling stake in Nexteer Automotive Group Ltd., the U.S. maker of steering and driveline products formerly owned by General Motors Co. Henniges, based in the Detroit suburb of Auburn Hills, produces sealing and anti-vibration systems used in vehicles from Ford Motor Co., Audi A.G. and Honda Motor Co., according to its website.

    The company is owned by Littlejohn & Co., a private equity firm run by Michael Klein. AVIC media affairs representatives in Beijing didn't answer phone calls and an e-mail seeking comment. Chris Tofalli, a spokesman for Littlejohn at Chris Tofalli Public Relations L.L.C., said he couldn't immediately comment.

    Henniges employs more than 6,500 workers at its operations in North America, Europe and China, according to its website. Its products include seals which attach to the car hood and doors to prevent water and air from getting inside the vehicle, as well as anti-vibration systems, encapsulated glass and rubber components.

    In February 2014, Henniges acquired the remaining 40 percent of Beijing Wanyuan-Henniges Sealing Systems Co. Ltd., its Chinese joint venture with China Academy of Launch Vehicle Technology. The Chinese unit makes products for customers including Shanghai Volkswagen Automotive Co., the local venture of the top-selling foreign carmaker in China, and FAW Car Co., an arm of the nation's oldest automobile manufacturer.

    It also supplies parts for a global General Motors program, its website shows.

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