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 previous Timken Company (Timken) enterprise unit under the guiding axis, the enterprise focuses on three foremost U.S. automobile manufacturers. Second half of last year, as sales of the three foremost vehicle manufacturers produced in a spectacular shrinkage of the business tough to DS, a considerable shrinking sales. The end of last year, DS businesses to go in bankruptcy, when the universal origin hundreds of thousands of dollars U.S. businesses receivable awful 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 novel business is in all prospect to prevailing a very sluggish U.S. auto industry to save the duties of come seal 150 and 100-150 to come the 10,000 shifting to production. - 21392

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