September 1 -- EVA Precision Industrial Holdings (0838.HK) fully acquired Chongqing Digidie Auto Body for just under US$100 million, reports Shanghai Securities News. EVA plans to build an auto mold production base in Chongqing in the next two to three years after the acquisition is complete. Chongqing Digidie supplies auto molds to eight major domestic automobile makers.

With competition among auto parts suppliers becoming fiercer, China’s domestic auto part sector may start a wave of integration to improve market concentration, the source said.

Source:capitalvue