MILAN, Oct. 22 (Class Editori) -- The Meta System of Reggio Emilia has a new Chinese partner, Sichuan Gloport Investment Group Co., Ltd. Gloport has completed the payment of 76.26 million euros to implement an expected capital increase, aiming at developing new technologies.
The company, which has its headquarters in Reggio Emilia and an important plant in Mornago (Varese), specializes in research, development and production of electronics applied to advanced safety systems for the automotive, motorcycle and energy markets. The majority of the capital (60%) belongs to Deren, a group based in Shenzhen, a leading manufacturer of wiring and electronic components for the automotive, telematics, household appliances and the entertainment industry.
Meta System, founded in 1973 by the entrepreneur Giuseppe Simonazzi, who is outside the management and chairman of the supervisor board, employs 220 people and boasts over 150 patents for a turnover of around 120 million euros, thanks to the synergies between its three operating divisions - e-mobility, telematics and security (alarms).
Meta System is a leader in the Italian industry for what concerns connectivity in motion, applied in particular to the automotive sector and therefore for autonomous driving. Since 2017, in this sector it collaborates with Huawei, with which it has an agreement for the connected car strategy. The agreement signed with the company of Reggio Emilia, world leader in the usage-based insurance market (Ubi), that is on remote control devices, involved the development of interconnected vehicles application and the supply of a series of Ubi end-to-end solutions for the industry.
Deren currently employs 20,000 people in 8 countries, with a turnover of around 1 billion euros, and is listed on the stock exchange. Gloport is a state fund controlled by the municipal government of Yibin, which operates financial investments, carries out activities of urban management, municipal construction, tourism and culture, real estate development, real estate services, energy management and technological incubation, and has holdings in more than 40 big companies.
Simultaneously with the payment of the new capital, the Meta System shareholders have appointed the new board of directors, which includes a total of seven members, four representing Deren, two representing Gloport and one representing the CMAF member. The new board of directors has confirmed the assignment as chairman of the board and CEO of the company Wenhua Lu to Simon Lui, confirming the continuity and confidence in the previous management.
With capital strengthening, Meta System opens a new phase in its history, with greater capital solidity and with renewed will on the pool of shareholders. The management is oriented with even greater commitment to the pursuit of business strategies to lead the Company to a market position that reflects its value in the technological field.
(Source: Class Editori)
Notice: No person, organization and/or company shall disseminate or broadcast the above article on Xinhua Silk Road website without prior permission by Xinhua Silk Road.
A single purchase
