NORMA
Joining technologies specialist invests in Asia / New plant in India / Acquisition in Malaysia
Norma’s Asia Pacific president John Stephenson cutting the ribbon of the new plant in Talegaon (Photo: Norma) |
German engineered joining technology provider Norma Group (Maintal; www.normagroup.com) has made two key investments in Asia. On 27 October the company inaugurated a production site in Talegaon, near Pune / India. The new 6,500 m2 plant replaces an older and smaller production site. Norma will produce flexible nylon tubing for a range of applications, including fuel lines and crankcase ventilation at the site. “We have been present in India for many years with our business evolving greatly,” said John Stephenson, group COO and president of its Asia Pacific business unit. “The opening of this facility is a logical step for us in adjusting our capacities to the growing demand for our joining technology solutions in the Indian market and the entire Asia Pacific region,” he added.
Just a few weeks before, Norma signed a share purchase agreement for 85% of the shares in thermoplastic joining elements producer Chien Jin Plastic (Ipoh / Malaysia; www.chienjin.com). The two companies agreed to maintain confidentiality about the transaction’s details. A Norma spokeswoman told Plasteurope.com that the deal is expected to be finalised by the end of November. The Malay producer of joining elements for plastic and iron pipe systems, which employs 150 workers, last generated sales of more than EUR 7m. “This acquisition of the majority in Chien Jin Plastic shares reinforces our presence in the growth region Asia-Pacific and is a valuable enhancement to our product portfolio, in particular in the drinking water distribution market,” said Norma Group CEO Werner Deggim.
Norma operates 19 production sites throughout the world, manned by a total workforce of 4,500. Aside from the two new investments in Asia, Norma also has plants in China and Thailand. Group revenues reached EUR 581.4m last year and management expects to lift sales by 3-6% in 2012.
Just a few weeks before, Norma signed a share purchase agreement for 85% of the shares in thermoplastic joining elements producer Chien Jin Plastic (Ipoh / Malaysia; www.chienjin.com). The two companies agreed to maintain confidentiality about the transaction’s details. A Norma spokeswoman told Plasteurope.com that the deal is expected to be finalised by the end of November. The Malay producer of joining elements for plastic and iron pipe systems, which employs 150 workers, last generated sales of more than EUR 7m. “This acquisition of the majority in Chien Jin Plastic shares reinforces our presence in the growth region Asia-Pacific and is a valuable enhancement to our product portfolio, in particular in the drinking water distribution market,” said Norma Group CEO Werner Deggim.
Norma operates 19 production sites throughout the world, manned by a total workforce of 4,500. Aside from the two new investments in Asia, Norma also has plants in China and Thailand. Group revenues reached EUR 581.4m last year and management expects to lift sales by 3-6% in 2012.
06.11.2012 Plasteurope.com [223763-0]
Published on 06.11.2012