A few days ago, China's Sichuan Bochum Industrial Group and Wescast Industrial Company signed an agreement to complete the acquisition of the latter at a price of nearly 200 million U.S. dollars.

The two sides started negotiating acquisitions last year until they signed an agreement. Initially, Bochum Industrial offered 180 million Canadian dollars (about 175 million U.S. dollars) to pay for Wescast debt, but according to the latest agreement, the amount has been reduced to 145.6 million Canadian dollars (about 142 million U.S. dollars).

It is reported that Bochum Industries will eventually complete the acquisition of Viscatter at a cost of 195 million Canadian dollars (about 190 million US dollars). The transaction is completed in the second half of this year or the first half of next year.

Wescast is the world's largest supplier of cast iron exhaust pipes for passenger cars and light trucks. Headquartered in Ontario, Canada, Wescast supplies components for the passenger and light truck markets in North America, Europe, Asia, Africa, South America and Australia.