(Yicai Global) March 2 -- Anhui Aikelan Environmental Protection, a Chinese developer of exhaust after-treatment equipment, has announced plans to acquire a French auto exhaust firm to boost its push into overseas markets.

Aikelan will spend EUR18.3 million (USD22.2 million) to acquire Vitesco Technologies Faulquemont, and CNY6.1 million (USD943,445) to buy its parent company’s related assets in Germany and China, the Anhui province-based company said in a statement.  The acquisition will spur its expansion in Europe and North America, it added. 

Aikelan will also repay the debts of Vitesco Technologies Faulquemont to gain the entirety of its equity, as well as acquiring parent company Vitesco Technologies’ production lines for related items, which are located in Germany, and in Changchun and Wuhu in China, gaining both the fixed assets and the intellectual property rights, according to the statement. 

The announcement did not specify the scale of the French company’s debts. 

Founded in 2003, Vitesco Technologies Faulquemont is engaged in the research, development, manufacturing and sales of injection systems and urea pumps to control diesel engine emissions. Its parent was created from the former powertrain department of German auto parts maker Continental AG, the statement said. 

Aikelan is a listed firm focusing on R&D and production of after-treatment products for the exhaust gases from gasoline, diesel and natural gas engines. It also provides professional services related to emissions testing and calibration technologies. 

Aikelan [SHE: 300816] closed up about 3.2 percent at CNY75.7 (USD11.7). 

Editor: Tom Litting