On June 11th, GSP and ASA hosted the shareholding ceremony. We are happy and proud to announce that GSP becomes shareholder of ASA (Yuhuan Jinli Auto Parts Co., Ltd.) with immediate effect. This investment will be used for the construction of new plants and expansion of production capacity to meet the increasing demand of order.
The new cooperation stage has a firm foundation as GSP and ASA already have passed some years of very successful strategic cooperation in the European market and our mutual vision is to become a leading steering and suspension parts supplier in the industry.
ASA is a top automotive aftermarket manufacturer in China with 29 years of experience in steering and suspension parts manufacturing. GSP is a leading supplier for global aftermarket and OE business, who has very successfully developed the business in Europe over the past 15 years with a well-established and professional team located in the center of Europe, providing not only services and sales support to the customers but also logistical services.
In the new stage GSP and ASA will have in-depth integration on the management of R&D, manufacturing, quality control, supply chain, on-time delivery, product management as well as sales & marketing. Meanwhile, we will also make full use of our respective advantages: GSP is exclusively in charge of all sales and marketing in Europe, ASA focuses on R&D innovation and manufacturing based on European standard. The only target is to join our forces to strengthen the distribution by supporting and servicing existing customers of ASA as well as the GSP customers.
The chairman of GSP, Mr. Zhou Jiaru said, “Today we are here to sign a joint venture agreement to carry out capital level cooperation. Our relationship is becoming closer. After the investment, we will fully support the development of ASA!”