Our shareholders not only gave us financial stability. Over the last years we also enjoyed their active support in developing Punch Powertrain to where it stands today.
Cor van Otterloo - CEO
Punch Powertrain was founded by DAF in 1972 and shortly afterwards launched the legendary ‘Variomatic’, the forerunner to the current CVTs. With its present generation of CVTs, DCTs and hybrid powertrains top three player Punch Powertrain fully responds to the strong expansion of the Chinese and Asian automotive markets. It can count Asian OEMs like Proton, Geely, BAIC, DongFeng, Haïma and JAC among its customers. Punch Powertrain has R&D activities in Belgium, the Netherlands and China. The main components are manufactured in Belgium, whereas the assembly is carried out to China. Punch Powertrain also has customer service centres in China and Malaysia.
Together, we build a leading company
Having pioneered continuously variable transmission (CVT) technology in the 1970s, Punch Powertrain now has an established position in the fast growing Chinese and Asian automotive markets. Punch Powertrain has also made significant investments in cutting-edge hybrid and electric powertrain technology. This positions the company to benefit from the increasing focus on fuel efficiency and emissions reduction in global automotive markets, especially in growing urban traffic.
Since Gimv’s investment in Punch Powertrain in 2010, turnover has almost increased fivefold. At the same time it expanded its customer base and broadened its products range.
Financing was only part of Gimv’s contribution to the company’s ride to success. We supported senior management of Punch Powertrain on several strategic initiatives, such as achieving customer and product diversification. For example: the technology agreement with DTI and its subsequent acquisition, developing different financing structures, working out strategic cooperation models with customers, developing the business plan and bringing the China-focused fund New Horizon Capital on board. These interactions took place when we thought that our opinion and experience could make a difference.
The sale of Punch Powertrain to the Chinese Yinyi group has been completed successfully In August 2016. For Punch Powertrain, Yinyi group is the right partner that will continue to give the company the opportunity to realize further growth and to diversify geographically, both within and outside Asia.