Chinese auto parts supplier Joyson buys Takata for $1.59 billion – China’s latest business and technology news

Business & Technology

A summary of the top news in Chinese business and technology for June 27, 2017. Part of the daily SupChina newsletter, a convenient package of China’s business, political, and cultural news delivered to your inbox for free. Subscribe here.

Wang Jianfeng 王剑峰 is the founder and chairman of Ningbo Joyson Electronic Corporation. He studied at the Hangzhou Academy of Fine Arts but soon after graduating, according to Sohu (in Chinese), entered his family’s business — making electronic components for the auto industry. In 2004, he founded Ningbo Joyson Electronic Corporation, and began an acquisition spree that made him one of the most important entrepreneurs in the global car business.

Bloomberg reports that Wang “is about to pull off his biggest deal yet: a $1.59 billion takeover of Takata, the troubled air-bag maker that filed for bankruptcy protection on Monday and is in the midst of the largest auto recall in history.” The deal will probably make Wang “the owner of the world’s second-biggest safety parts supplier, trailing only Sweden’s Autoliv.”