Shanghai Aerospace Automotive Electromechanical Co., Ltd. (HT-SAAE) has successfully closed the transaction of acquiring 51% share of erae Automotive System Co., Ltd. on January 31, 2018 through its wholly owned company Shanghai HT Holding Hong Kong Limited.
Effective February 1, 2018, Korea-based erae Automotive, China-based SDAAC Automotive and HT Hong Kong wholly owned Luxembourg Thermal Technical Center will become part of the HT-SAAE Global Thermal Business Unit.
Mr. Rengan Krishnakumar (KK) is appointed as Global Chief Executive Officer (CEO) of HT-SAAE Thermal Business Unit.
The newly created HT-SAAE Thermal Business Unit will have 15 sites and will significantly expand our footprint and will establish a technology innovation system across China, Korea, Europe and the United States. Our product lines include the complete thermal portfolio-CRFM, HVAC, compressor and HVAC controls.
Shanghai, January 31, 2018