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NORMA Group SE — M&A Activity 2014
Feb 10, 2014
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M&A Activity
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Corporate | 10 February 2014 09:10
NORMA Group holds 100% of shares in Chien Jin Plastic, Malaysia
NORMA Group SE / Key word(s): Acquisition/Mergers & Acquisitions
10.02.2014 / 09:10
NORMA Group holds 100% of shares in Chien Jin Plastic, Malaysia
Maintal, Germany/Ipoh, Malaysia, 10 February 2014 – NORMA Group, an international market and technology leader for engineered joining technology, has acquired the remaining 15% of the shares in Chien Jin Plastic Sdn. Bhd. (‘Chien Jin Plastic’) effective 07 February 2014. Chin Jin Plastic is headquartered in Ipoh, Malaysia, and manufactures thermoplastic joining systems. This transaction brings NORMA Group’s share in the company to 100%. The parties agreed to maintain confidentiality on the transaction details.
In November 2012, NORMA Group acquired 85% of the shares in Chien Jin Plastic. By doing so, the company significantly strengthened its business activities in South East Asia and extended its infrastructure product range. Chien Jin Plastic manufactures joining solutions for plastic and cast iron pipe systems used in diverse applications with a focus on drinking and domestic water supply as well as irrigation systems. The company also produces components for sanitary appliances.
Chien Jin Plastic generated record sales in 2013. Compared to 2012, sales grew organically by more than 10% to about EUR 8 million. Chien Jin Plastic has adjusted its offering to cater to its clients’ demands even more strongly. Its joining products have been introduced to the European and Australian markets via NORMA Group’s distribution channels. Chien Jin Plastic has also launched new product developments, for instance the ‘metric range’ and ‘rural range’ fittings in Australia and New Zealand. As at 31 December 2013, the number of employees had grown to 175 compared to 144 at the end of 2012.
‘The integration of Chien Jin Plastic into NORMA Group has been successful and we are already reaping the rewards. We are very proud of the business success,’ says Werner Deggim, CEO of NORMA Group. ‘Since we will continue to develop innovative products for water management, we expect Chien Jin Plastic to continue its profitable growth in financial year 2014.’
Chien Jin Plastic has been in the market for over 20 years and has distributed its products inter alia under the Fish brand to over 250 distributors in about 30 countries globally. NORMA Group has been present in South East Asia since 2004, operating sites in Singapore, Malaysia, Thailand, Indonesia and on the Philippines.
Additional information on the company is available on www.normagroup.com . To download press pictures, please visit www.normagroup.com/press pictures .
Contact
NORMA Group SE
Daphne Recker
Media Relations
E-mail: [email protected]
Tel: +49 (0)6181 – 6102 743
About NORMA Group
NORMA Group is an international market and technology leader in engineered joining technology. The company manufactures a wide range of innovative joining technology solutions in three product categories (clamp, connect and fluid) and offers more than 30,000 high-quality products and solutions to around 10,000 customers in 100 countries. NORMA Group joining products can be found in vehicles, ships, trains, aircraft, domestic appliances, engines and plumbing systems as well as in applications for the pharmaceutical and biotechnology industry. The company generated sales of around EUR 605 million in 2012. With around 4,800 employees, NORMA Group operates a global network of 19 production facilities as well as numerous sales and distribution sites across Europe, the Americas, and Asia-Pacific. The company has its headquarters in Maintal near Frankfurt am Main, Germany. NORMA Group was formed in 2006 as a result of the merger between the German Rasmussen Group and the Swedish ABA Group. Since April 2011, NORMA Group is listed on the German stock exchange and included in the MDAX index since March 2013.
End of Corporate News
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| Language: | English |
| Company: | NORMA Group SE |
| Edisonstr. 4 | |
| 63477 Maintal | |
| Germany | |
| Phone: | +49 (0)6181-6102-741 |
| Fax: | +49 (0)6181-6102-7641 |
| E-mail: | [email protected] |
| Internet: | www.normagroup.com |
| ISIN: | DE000A1H8BV3 |
| WKN: | A1H8BV |
| Indices: | MDAX |
| Listed: | Regulierter Markt in Frankfurt (Prime Standard); Freiverkehr in Berlin, Düsseldorf, München, Stuttgart |
| End of News | DGAP News-Service |
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