In August, Hengrui Corporation (HRC) succeeded in the buyout of Engenuity, a global composites design and analysis company.
The acquisition will allow the UK-based company to officially step into Chinese market, working on analysis and design of professional materials, engineering consultation and R&D of vehicles in China under the overall control of HRC. Meanwhile, Engenuity will maintain its existing businesses and further explore the global market as an independent entity.
« Pure metal materials being unable to solve the requirements in terms of structural functionalities and lightweight, the automotive industry is entering an era of structural composite materials”, said Graham Barnes, founder of Engenuity.
“Engenuity came to China, not only to follow this trend, but also because the demand is strong in the early stages of research and we are pleased to be able to bring our experience and expertise to China to help auto manufacturers, especially new energy vehicles manufacturers, to develop their projects more smoothly and transition towards the production stage.”
Industries: Automotive & Road Transportation