#Spain #Shanghai Electric #Nedschroef #Tarragona

Shanghai Electric Celebrates a Decade of Nedschroef Acquisition

On December 5, 2024, Shanghai Electric proudly commemorates the tenth anniversary of its acquisition of Nedschroef, a leading manufacturer of automotive fasteners. This occasion is marked by the official opening of Nedschroef's second factory in Tarragona, located in the northeastern part of Spain. This new facility represents a crucial step in enhancing Nedschroef's ability to supply innovative fastening solutions across Europe.

Expanding Manufacturing Capabilities

Nedschroef has continuously dedicated itself to advancing its technology and production capabilities since its acquisition by Shanghai Electric. With two plants now operational in Spain, the collaboration between Shanghai Electric and Nedschroef showcases a strategic approach to leverage regional strengths for better manufacturing outcomes.

The Tarragona factory is not merely a new building; it is a cornerstone of a comprehensive three-year plan aimed at optimizing production processes and increasing operational efficiency. The establishment of this site reaffirms Shanghai Electric's commitment to expanding its footprint in the automotive component industry.

Technological Advancements and Strategic Partnerships

Since acquiring CP Tech seven years ago, Nedschroef has pushed the boundaries of technology in automotive components. This collaboration has led to the development of high-precision and specialized components for unique applications, including hypercar chassis and low-altitude piloted aircraft.

The innovations stemming from CP Tech's expertise are pivotal to Nedschroef’s long-term business prospects. Shanghai Electric’s broader vision of fostering a collaborative innovation ecosystem spans various sectors including automotive, aerospace, and specialized transportation. This partnership sets the stage for expanding design and production capabilities that target advanced markets, enhancing competitiveness in the aerospace and specialized transport industries.

Supply Chain Optimization and Market Expansion

To further enhance production efficiency, Shanghai Zhenhua Bearings, a subsidiary of Shanghai Electric, will supply high-performance needle bearings, significantly lowering manufacturing costs for CP Tech and boosting overall efficiency. The strategic resource utilization from Shanghai Electric's headquarters and industry software developers aims to scale production capabilities while targeting the civil automotive market.

Shanghai Electric's commitment to building an inclusive corporate culture is evident through its robust employee support programs initiated during the pandemic. These measures reflect the company's dedication to nurturing a diverse and sustainable workplace environment.

A Vision for Sustainable Growth

Wu Lei, Chairman of Shanghai Electric, emphasized the unique opportunities presented by CP Tech's central European location, which enhances collaborative efforts across all business segments within Shanghai Electric. This synergy supports mutual growth while addressing challenges posed by the global market and technological evolution. Together, they are poised to unlock new opportunities and amplify their global presence.

With the inauguration of this state-of-the-art facility in Tarragona, Shanghai Electric and Nedschroef reinforce their mission to be leaders in the automotive fastener industry, setting new benchmarks in innovation and collaboration. The new factory represents not just a new chapter in Nedschroef’s journey but also a testament to the effective partnership between Shanghai Electric and its subsidiaries.