YOUNGMAN Plans to Invest in VISEON Bus GmbH
2012-06-08 Source：www.busworld.org
Summarize：Youngman Automobile Group Co., Ltd of Jinhua / China and Viseon Bus GmbH, Pilsting, Germany have signed an investment agreement, which stipulates that the Chinese automobile and truck company will become majority shareholder of the German bus manufacturer, which was founded in 2008. This was announced by the managements of the two companies on 31 May 2012.
www.chinabuses.org: Youngman Automobile Group Co., Ltd of Jinhua / China and Viseon Bus GmbH, Pilsting, Germany have signed an investment agreement, which stipulates that the Chinese automobile and truck company will become majority shareholder of the German bus manufacturer, which was founded in 2008. This was announced by the managements of the two companies on 31 May 2012.
The recently signed agreement was preceded by several months of negotiations. Youngman plans a long-term participation in VISEON and wants to support the current growth strategy of the company. Participation shall be carried out by an increase of capital, which will enable the young premium bus brand to invest further into expanding its market presence. The existing partners Joachim Reinmuth and Erno Bartha remain shareholders.
China Youngman Automobile Group Co., Ltd.. is one of the largest bus manufacturers in China. Last year the bus division of the Group has produced more than 4800 buses. Since 1994 Youngman (former Jinhua Neoplan) cooperates with Neoplan and MAN and holds several licenses for the production of Neoplan bus and coach models for the Asian market. In addition, Youngman manufactures licensed trucks and cars. "This investment in Viseon consolidates our premium position within the Chinese bus manufacturers," says Pang Qingnian, founder and president of Youngman Group, emphasizing his intention to engage in the long term.
Viseon had consistently expanded its market position following the acquisition of the former Neoplan plant in Pilsting, Lower Bavaria, with more than 200 employees in April 2009. In recent years the company showed increases of up to 50 percent. The basis for this rapid development was not only the establishment of a national and international distribution network, but especially an intense product and innovation offensive with seven all-new coaches, low floor double-deckers and trolley buses, as well as numerous developments and improvements of the Neoplan airport apron buses built by Viseon. “The long-term involvement of a financially powerful investor like Youngman will allow us to continue the existing innovation and growth and strengthen our market position in all our product areas," explains Joachim Reinmuth, managing partner of Viseon Bus GmbH.
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