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NORMA Group Acquires Majority Stake in Manufacturer of Joining Products in China
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2017-04-06
NORMA Group signed a purchase agreement to acquire 80 percent of the shares in Fengfan Fastener (Shaoxing) Co., Ltd. (“Fengfan”), based in Shaoxing City, China, on March 28, 2017. The details of the agreement are confidential and will not be published. The transaction is expected to close in the second quarter of 2017. Founded in 1988, Fengfan manufactures joining products made of stainless steel, nylon and specialty materials. Its portfolio includes cable ties and fastening elements, for example.
“With the acquisition of Fengfan, we are expanding our product portfolio and our position in the Chinese market,” says Werner Deggim, CEO of NORMA Group. With around 190 employees, Fengfan supplies to customers in the shipbuilding and heavy industries as well as to manufacturers of transport vehicles. Its products are marketed on the domestic Chinese market and exported to other countries. Its preliminary annual sales amounted to around EUR 15 million in 2016. Fengfan has a production and sales site in Shaoxing City in the Zhejiang Province.
“With the acquisition of Fengfan, we are expanding our product portfolio and our position in the Chinese market,” says Werner Deggim, CEO of NORMA Group. With around 190 employees, Fengfan supplies to customers in the shipbuilding and heavy industries as well as to manufacturers of transport vehicles. Its products are marketed on the domestic Chinese market and exported to other countries. Its preliminary annual sales amounted to around EUR 15 million in 2016. Fengfan has a production and sales site in Shaoxing City in the Zhejiang Province.
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國際展會
惠達雜誌
匯達實業
外銷媒合
廣告刊登
螺絲五金
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台灣扣件展
印度新德里螺絲展
越南河內螺絲展
墨西哥瓜達拉哈拉螺絲展
美國拉斯維加斯螺絲暨機械設備展
波蘭克拉科夫螺絲展
義大利米蘭螺絲展
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