U.S. supplier Neapco opens Shanghai tech office
Neapco Holdings says it is opening its Asia business office in Shanghai to provide technical support to customers who buy Neapco's half-shafts, driveshafts, differentials and aluminum die castings.
Neapco, which employs 2,200 workers, operates factories in the United States, Mexico, Poland and Germany.
In 2003, the Carlyle Group, a private U.S. investment firm, acquired Neapco. Three years later, Neapco's top management teamed with the Wanxiang Group of China to buy the company from Carlyle.
The Wanxiang Group, a supplier of driveline components based in Hangzhou in southern China, generates global sales of $10 billion (64 billion yuan) a year.
In 2008, Neapco acquired Ford Motor Co.'s driveshaft production business in suburban Detroit. Neapco is headquartered in Belleville, Michigan.
