The Chinese Concern Zhongwang acquires the German company Aluminiumwerk Unna AG (ALUnna).
This is the first foreign acquisition to expand their international business.
(HONG KONG, PEKING CHINA, UNNA GERMANY, September 2017) One of the world leaders in development and manufacture of aluminium products, China Zhongwang Holdings Ltd., announces that, effective from August 2017, its German daughter company Zhongwang Aluminium Deutschland GmbH completed the acquisition of Aluminiumwerk Unna AG. Upon completion of the acquisition, the Group will hold 99.72% equity interest in Aluminiumwerk Unna AG. Founded in 1914 Aluminiumwerk Unna AG is based in Unna Germany and supplies, amongst others, worldwide renown airplane manufacturers with high quality seamless aluminium tubes.
Executive Director and President Lu Changqing from China Zhongwang stated: We greet ALUnna and would like to welcome ALUnna into the large Zhongwang Family. The acquisition is a milestone in the expansion of our international strategy and an important step in complementing the Corporations business. China Zhongwang and ALUnna have the same company philosophy and share a common belief: Achieve excellent solutions for customers through continual innovation and tireless commitment. Whilst at the same time, the focus of all activities is environmental protection and sustainable company development. We are confident that through this fusion a spark will be created and synergies aided.
The acquisition will also substantially enhance Zhongwang in as much as its production expertise in seamless extruded aluminium tubes will increase and create synergies for its Product Portfolio. Furthermore, ALUnnas Certification and Market experience will accelerate Zhongwangs business expansion into the aerospace and automobile industries which have their own high industrial standards. This will strengthen the Group as a whole. Zhongwang will support ALUnna, from Resources, Financing to Market expansion. In this way the long term development of ALUnna is secured.
The ALUnna core businesses are seamless tubes, porthole tubes and other high value products with a high customer worth. These high value products are used in the aerospace, automobile and mechanical engineering industries. With a history of over 100 years, AlUnna has accumulated impeccable R&D capabilities and, at its location in Unna, developed an integrated production line. This ranges from casting individual alloys, through hot and cold forming to specific heat treatment and fixed length cutting processes. ALUnna customers embrace a number of world-renowned companies including Airbus, Boeing, Bombardier, Mercedes-Benz and BMW who all enjoy leading positions in their fields both in Europe and worldwide.
Zhongwang is a reliable strategic partner and we are especially pleased about this fusion, states Thomas Wiese the ALUnna CEO. As the worlds second largest producer of industrial aluminium products, Zhongwang will support us; to achieve further flexibility in the areas of financing and operative business, to achieve long term growth, to reinforce our international reputation and recognition and to strengthen our position as a leading worldwide supplier. We look forward to the partnership with Zhongwang. Our first goal is to achieve a smooth transition. In the long term the merger offers more room for development for current employees as well as creating new jobs. ALUnna together with Zhongwang have the goal of continuing to generate lasting values for customers, partners, employees and shareholders worldwide.
Zhongwang has strategically expanded its global Business; it has branches in Germany and Japan to force export sales. Through its acquisition of Aluminiumwerk Unna AG, the market leader in Germany as well as Europe, Zhongwang has officially entered the European Market.
Aluminiumwerk Unna AG
A short portrait of Aluminiumwerk Unna AG (ALUnna)
ALUnna was founded in 1914 in Unna Germany and counts as a European and Worldwide leading aluminium manufacturer. Alongside aluminium tubes (its core business), aluminium profiles, bars and billets count as part of the high quality product portfolio. The highly skilled employees and the modern manufacturing facilities enable ALUnna to sell its products in Europe, North America as well as many other places worldwide. The tailored products beneficial to customers find use in the aerospace, automobile, mechanical engineering and energy branches. Together with employees, customers, suppliers and shareholders, ALUnna applies itself in creating sustainable values for the society.
For further information about ALUnna, https://www.alunnatubes.com/home.html
A short portrait China Zhongwang Holdings Ltd.
China Zhongwang is the largest Asian and worldwide second largest producer of industrial aluminium extrusions, who for years has been applied to the development in light weight construction for the transport, mechanical engineering and energy branches. Currently, the Concern has over 90 aluminium extrusion presses made by world leading manufacturers, of which 21 presses have over 75 MN power. The Concern combines four core competencies. These extend from Product Design, across Product Development and Casting practices to modern Plant technology. These distinguish the special competitiveness of the Concern within the aluminium industry.
To continue and expand the success within the aluminium industry, the Portfolio is currently being expanded through a project for high added value flat rolled aluminium. There are currently two production lines of 1.8million tonnes annual capacity being planned and built. After completion, Zhongwang will possess the worlds largest and most modern aluminium flat rolling production plant.
This new equipment will enable not only the use of existing core competencies in casting and product development, but enables the use of available customers and market resources for extruded products and processing. The three columns extrusion, flat rolling and processing complement each other and constitute the future core business.
For further information about China Zhongwang, http://www.zhongwang.com/