McConnell Seats has been bought by Malaysian vehicle parts manufacturer APM for $4.7 million
McConnell Seats Australia has been bought by Malaysian-based APM Auto Components (Australia) as the automotive parts manufacturer plans to expand its marketplace in Australia.
APM took over management last week, but McConnell will continue to operate as usual.
McConnell General Manager James Lowe describes the partnership as “exciting” and says the acquisition opens doors internationally for the Australian seating manufacturer.
It is still to be determined how APM products will be integrated into McConnell’s seating range.
“It’s still really, really early in the picture,” says Lowe.
“It’s a win-win for both companies and ultimately our customers in Australia.”
Lowe says APM is one of the largest automotive parts manufacturers in Malaysia.
“They will provide a lot of assistance to us going forward.”
He says the existing McConnell Melbourne management team will remain with the business, and the operating premises will also remain the same.
“There will be no change in the day to day operation of McConnell.”
McConnell Seats was bought for $4.7 million, according to a statement released by APM.
It is part of APM’s strategy to expand its market base overseas.
The acquisition will create an opportunity for APM to leverage on the existing products and McConnell’s customer base.
“With the acquisition, an additional range of seat models/designs could be marketed to other countries by the APM Group,” reads the statement.