To reinforce its presence on the important Chinese market, automotive components supplier Novares (Paris / France; www.novaresteam.com) has established the "Noveastern" brand. It is part of a strategy change aimed to stimulate growth in China. At present, Novares operates a plant for electric drive trains in Shanghai as well as two engineering centres, which is a relatively modest presence when compared with other international players. "China is a key growth market for us," says Novares CEO Pierre Boulet.

The investments are expected to be financed by the income from the stock market launch on the Euronext Paris targeted by Novares' owners, Equistone Partners Europe (Munich / Germany; www.equistone.com), plus a capital increase. Since the beginning of 2016, the investment company has held a 75% interest in the supplier.

Noveastern's plastics portfolio will comprise seven product lines, which will supply car manufacturers both directly and as tier 1 companies. The product lines include components for the engine compartment (piping and tanks), electrical drive systems (batteries and temperature management), central consoles and control elements, interior liners including vents and glove compartments, bodywork elements, radiator grilles and tank caps, acoustic and aerodynamic components and roof elements.