Nearly 60% of the shareholders of German vehicle seats and centre consoles manufacturer Grammer (Amberg; www.grammer.com) have accepted the tender offer submitted by majority shareholder Ningbo Jifeng Auto Parts (Ningbo, Zhejiang / China; www.nb-jf.com) – see Plasteurope.com of 15.08.2018.

The Chinese company – initially brought in by Grammer's management as a white knight against the attempted takeover by the Bosnian Hastor family and its Prevent group – now holds 84.23% of the German company's share capital.

"Our customers also view the new principal shareholder very positively and with the enlarged partnership with Ningbo Jifeng we can expect a positive contribution to Grammer’s future development," said Grammer CEO Hartmut Mueller. Jifeng signed a business combination agreement earlier this year that provided extensive guarantees for jobs, facilities and intellectual property.