Acquisition of shares in Fanshun Elan, Guangzhou, South China

10 July 2015

Mauser Group : Acquisition of shares in Fanshun Elan, Guangzhou, South China

MAUSER Group, a worldwide leading company in industrial packaging based in Bruehl, Germany, acquired the 50% shareholding of Time Technoplast in the IBC business of Fanshun Elan. The acquisition was effective July 1, 2015.

Fanshun Group and Time Technoplast (through its subsidiary GNXT Investment Holding Pte. Ltd. in Singapore) operated an IBC joint venture in Guangzhou (South China) named Guangzhou Fanshun Elan Plastech Co. Ltd. ("Fanshun Elan").

Operations and business of Fanshun Elan will be integrated into the existing Fanshun MAUSER IBC joint venture, giving the successful venture between MAUSER Group and Fanshun Group better access to the South China market and a broader customer base to supply its industry leading line of IBCs. The company will operate as Guangzhou Fanshun MAUSER Co. Ltd. ("Fanshun MAUSER").

Fanshun MAUSER is currently producing IBCs in two locations in China, Jinshan (Shanghai) and Jiangyin. The South China operations in Guangzhou will implement the MAUSER SM design and quality standard as applied globally.

The investment made by MAUSER to acquire the Time Technoplast share in Fanshun Elan not only reaffirms MAUSER's commitment to the Chinese marketplace, but also to growing its operations globally.

"We are very pleased with the addition of the South China business and its production facility," remarked Philippe Larretgere, General Manager of Fanshun MAUSER. "We see tremendous growth opportunity for IBCs in China and the addition of the South China plant to our existing operations in Eastern China will enable us to serve customers more efficiently with our superior product range of IBCs."

Further Information:

MAUSER Group
Stefan Wiedenhöfer
SBU Manager Asia
Schildgesstr. 71-163
50321 Bruehl, Germany
Stefan.Wiedenhoefer@mausergroup.com
www.mausergroup.com

 



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