#Spain #Shanghai Electric #Nedschroef #Tarragona

Shanghai Electric Commemorates 10 Years with Nedschroef

On the occasion of the tenth anniversary of its acquisition of Nedschroef, a subsidiary specializing in fasteners, Shanghai Electric has announced the groundbreaking of a new factory located in Tarragona, Spain. This new facility aims to bolster the capabilities of Nedschroef, emphasizing Shanghai Electric's commitment to advancing their ability to deliver high-quality fastening solutions across Europe.

The Tarragona factory will be pivotal in Nedschroef's three-year operational strategy, designed to optimize production capabilities and boost efficiency. The establishment of this second factory reflects a strategic approach to enhancing the automotive components sector, contributing to the growth of not only Nedschroef but also the regional economy.

Since the acquisition seven years ago, Nedschroef has been reinforcing its status in the automotive sector, leveraging two manufacturing sites in Spain to utilize the region's strengths effectively. This development marks a significant milestone in the company’s efforts to push technological boundaries and innovate within the fastener industry.

Through the acquisition of CP Tech, the company has further enhanced its offerings with specialized components designed for unique applications. This partnership has enabled Nedschroef to diversify its product range, extending from hypercar chassis to aircraft undercarriages for low-altitude flights. The innovations brought forth by CP Tech play an instrumental role in guaranteeing Nedschroef's long-term viability and success.

In support of a broader vision, Shanghai Electric aims to foster a collaborative ecosystem that encourages innovation across various sectors, including automotive, aerospace, and specialty vehicles. By utilizing the expertise of CP Tech, the companies can challenge the limits of design and production tailored to advanced markets.

Shanghai Electric is committed to creating a sustainable development environment, which is evident through their initiatives aimed at optimizing the supply chain. This includes the integration of Shanghai Zhenhua Bearings, a subsidiary that will contribute to the production of high-performance needle bearings, significantly reducing costs while boosting efficiency for CP Tech.

Moreover, the partnership is set to capitalize on market expansion opportunities, leveraging Shanghai Electric's resources in industrial software to enhance visual capabilities and increase operations in the civil vehicle segment. This strategic collaboration underlines a corporate culture that prioritizes employee welfare and inclusivity, especially witnessed during the challenges of the pandemic.

Wu Lei, President of Shanghai Electric, remarked, "CP Tech, located in the very heart of Europe, has unique qualifications to strengthen the collaboration between Shanghai Electric's business segments. This synergy encourages mutual growth while allowing for agile responses to global market fluctuations and technological advancements. Together, we will unlock new opportunities and expand our global reach."

With the ongoing development of the Tarragona factory, Shanghai Electric and Nedschroef are set to redefine standards in the automotive fastener industry, offering advanced, sustainable, and innovative solutions to meet the growing demands of the European market. The expansion not only signifies a strong commitment to product development but also reflects a strategic response to future industry trends, reinforcing their position as leaders in automotive manufacturing.