Miller Canfield served as lead counsel and assisted China’s Fuyao Glass in acquiring a portion of a former GM light duty truck plant in Moraine City, Ohio. Fuyao plans to build an automotive glass facility, investing more than $200 million and hiring 800-plus employees. Pictured (l-r) are Miller Canfield lawyers Matt Steele (Cincinnati) and Shusheng Wang (Troy); Dewang Cao, chairman of Fuyao; Miller Canfield lawyers Larry Woodard (Chicago) and Paul Perry (Cincinnati); and Miller Canfield global business manager, Olivia Deng (Troy), at the closing.
Law firm represents Chinese investors in six major deals
Miller Canfield attorneys have brought inbound Chinese investment to these shores, in half a dozen recent deals that are providing hundreds of jobs, according to officials with the Detroit-based law firm.
The latest was in September, when a Miller Canfield team led by Shusheng Wang and Richard A. Walawender served as lead counsel for Chinese automotive glass manufacturer Fuyao Glass America, Inc., for its purchase of a manufacturing facility in Mt. Zion, Ill. from PPG Industries.
The deal marks the sixth time in the past 15 months in which Miller Canfield represented a Chinese purchaser investing in the U.S., totaling more than $610 million.
In May, Miller Canfield assisted Fuyao Glass in acquiring a portion of a former GM light duty truck plant in Moraine City, Ohio, where Fuyao plans to build an automotive glass facility, investing more than $200 million and hiring more than 800 employees. This was the largest investment made in Ohio in the past two years.
In April, the firm assisted China’s SDIC-owned Rongshi International in acquiring ABC Group Fuel Systems, Inc. (GFS) from ABC Group, a Canada-based, tier-one supplier. GFS is a Tennessee-based supplier with business operations in the U.S., Canada, and Mexico.
In January, the firm assisted Chinese micro-motor manufacturer Zhongshan Broad-Ocean and Phoenix Capital Management in acquiring Prestolite Electric Incorporated (PEI), a Michigan-based supplier with business operations in the U.S., U.K., and China, to expand its motor and new energy automotive components.
In April 2013, Miller Canfield assisted Yanfeng USA Automotive Trim Systems, a subsidiary of Yanfeng Visteon of China that supplies parts to major OEMs, with its build of a production facility in Riverside, Mo., creating approximately 300 jobs. This is the third plant for Yanfeng in the U.S.; the other two are in Michigan with about 300 employees. Missouri Governor Jay Nixon said in a statement that the announcement is excellent news for Missouri’s automotive industry sector and economy as a whole.
Miller Canfield has been representing clients in complex global business transactions for many years, since the establishment of its first offices in Poland more than 20 years ago to the more recent opening of its offices in Shanghai, China, and Monterrey, Mexico. In the past year alone, its Mergers and Acquisitions practice has spearheaded deals in Canada, China, Mexico, India, Brazil, Eastern Europe and Russia in addition to those throughout the United States.
Miller Canfield represents a majority of the Chinese investment in the Midwest.
“We continue to see strong Chinese interest in investing and building or establishing their North American footprint, especially in the automotive industry in the Midwest,” said Wang. “We are pleased to have helped these companies further their business goals, while building stronger communities.”
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