Log in or Register for enhanced features | Forgotten Password?
White Papers | Suppliers | Events | Report Store | Companies | Dining Club | Videos
Automotive Business Review
Return to: ABR Home | Automotive | Parts, Tires and Aftermarket | News Listing

Zhejiang Yinlun Machinery acquires Thermal Dynamics

ABR Staff Writer Published 24 May 2016

Thermal Dynamics International has been acquired by Zhejiang Yinlun Machinery Co. Ltd., Tiantai, Zhejiang, China.

Thermal Dynamics manufactures a full range of water- and air-cooled heat exchangers, aluminum radiators and charge air coolers as well as stainless steel integral and remote coolers. It will continue operation as a wholly-owned subsidiary of YLSQ Holdings Inc. in Delaware, USA.

Previously owned by Evergreen Pacific Partners located in Seattle, Washington, Thermal Dynamics has its headquarters and a manufacturing facility in Ontario, California, as well as three joint-venture production relationships in China. It also has sales and application engineering centers in Farmington Hills, Michigan, and Mooresville, North Carolina. It has about 100 employees.

Thermal Dynamics' customers include Allison Transmission, Daimler Truck North America, Ford, FCA, Harley-Davidson, Oshkosh, PACCAR and Polaris, as well as auto suppliers such as Faurecia and Valeo.

Yinlun Board chairman Xu Xiaomin noted that the acquisition is designed to expand Yinlun's footprint in North America, speed global product development efforts and strengthen relationships with major customers in the NAFTA region.

Xiaomin said: "Thermal Dynamics is a recognized leader in the development and manufacture of innovative heat-exchange systems and components.

"Yinlun already has a strong customer base with Caterpillar, Cummins Engine, Ford, and John Deere in the U.S., and this acquisition also will allow us to build off of Thermal Dynamics' diverse automotive, heavy-truck and off-highway customer base.

"In addition, the company also serves industries new to Yinlun such as high-performance and small-engine manufacturers."

Thermal Dynamics president and CEO Dean Arneson will continue in a similar position with the new Yinlun subsidiary.

Arneson said: "Combining our resources with Yinlun will create tremendous growth opportunities benefiting both companies in the future. "I am enthusiastic that our new company will be very competitive from day one."

Zhejiang Yinlun Machinery Co. Ltd. invested $56.65 million to acquire 100 percent of Thermal Dynamics International, which posted sales of $49.5 million in 2015.

Source: Company Press Release