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Exel Composites, Finland, has closed a transaction to acquire the Chinese composites production business of Nanjing Jianhui Composite Material (JHFRP).
The business includes one manufacturing unit, which uses mainly pultrusion technology to produce composite products that are largely complementary to Exel’s existing offering. According to Exel, Nanjing Jianhui has a balanced portfolio of local Chinese customers and exports outside China, and the business has been growing steadily and profitably.
“This is an important step in the implementation of Exel Composites’ growth strategy in China and strengthens our position in China as well as in the Asia-Pacific area,” says Riku Kytömäki, President and CEO of Exel Composites. “In China the megatrends are strongly driving growth and presenting new business opportunities. In addition to expanding manufacturing capacity, we are also expanding our local sales and product development network, our customer portfolio and the range of applications we offer to the local market. Exel’s existing Chinese factory as well as that of the acquired business are both located in Nanjing, which gives us the opportunity to realise operational synergies.”
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