Beijing (ZXZC)- MoldTecs Automotive Systems (Taicang) Co., Ltd. held its opening ceremony in Chengxiang Town, Taicang, a county-level city in southeast Jiangsu Province on August 2nd. 

Photo credit: MoldTecs

MoldTecs is the first Chinese factory invested by Mutares Fund to produce high-performance plastic components for the automotive industry. The project is expected to achieve an annual output value of over 500 million yuan and contribute more than 20 million yuan in taxes after reaching full production capacity.

The factory is located in the Sino-Europe Advanced Manufacturing Industrial Park in Taicang. It occupies a leased area of 10,000 square meters and has a total investment of 25 million euros with a registered capital of 10 million euros. It mainly produces automotive plastic intake manifolds, charge air duct, cylinder head cover, coolant tank, cooling module and wash tank, and will gradually expanding into the field of pure electric vehicles and hydrogen fuel vehicles. Renowned brands such as BMW, General Motors, Volkswagen, and Nissan are among their customers.

Heiko Baufeld, MoldTecs's Co-CEO, revealed that the decision to establish a factory in Taicang was based on the favorable regional location and the availability of comprehensive suppliers and customers. Moreover, there provides access to a skilled workforce capable of meeting the production and engineering requirements of the company.

“We are also grateful for the support and assistance from the local government in establishing our facility here. In the future, we will continue to acquire new businesses, develop new products and technologies, and further expand the factory's production capacity,” said Heiko Baufeld.

MoldTecs was established and renamed after the Mutares Fund acquired the global high-performance plastic components business of Mann-Hummel in October 2022. In addition to the new Chinese factory in Taicang, it also operates two factories in Germany, one in France and one under planning in United States. Additionally, it also has sales offices in the United States, Mexico, Brazil, Japan, South Korea, India, and China. As a primary supplier of high-performance plastic components in the automotive industry, its operations and production span across the globe, with global revenue exceeding 500 million euros.