Universal’s successful acquisition of the U.S. automobile steering shaft finance DS

by Zou Frbiz

The United States March 30, provincial time, later consultation by the parties, Universal’s successful acquisition of the U.S. automotive steering shaft DS all valid finance supplies, surrounding all patents and intellectual property rights.

DS former Timken Company (Timken) business unit under the steering axis, the business focuses on three major U.S. automobile manufacturers. Second half of last year, as sales of the three major car manufacturers resulted in a dramatic shrinkage of the company difficult to DS, a substantial shrinking sales. The end of last year, DS companies to enter bankruptcy, when the universal cause hundreds of thousands of dollars U.S. companies receivable bad debts.

After all aspects of relevant consultations, Universal Corporation and other investors agreed to buy DS axis shift all valid business assets, including all patents and intellectual property rights, and with the DS of all major customers to ensure the normal operation of the new company to reach agreement.

After the completion of the acquisition, the new company is expected to present a very sluggish U.S. auto industry to save the jobs of about 150 and 100-150 to reach the 10,000 shifting to production.

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