Nedschroef Acquired by Shanghai Prime Machinery

Shanghai Prime Machinery listed in Hong Kong Stock Exchange acquired the Netherlands-based Nedschroef, which is a screw and auto fastener supplier with business operations in 14 countries, for 325 million euros. Nedschroef was originally controlled by Gilde Buy Out Partners and Parcom Capita (a venture capital company based in Europe). After the acquisition, Nedschroef will be still headquartered in Netherlands with all its facilities and production being open. This deal can further enhance the reach of Shanghai Prime Machinery to European car manufacturers and also assist Nedschroef in getting access to the vast market in China.