Bucher Emhart Glass is taking complete control of its joint venture in China
Bucher Emhart Glass has announced that it is taking over the remianing shares of its joint venture with Shandong Sanjin Glass Machinery.
Bucher Emhart Glass is to take over the remaining shares of its joint venture with Shandong Sanjin Glass Machinery.
The joint venture was formed in 2011 and specialises in glass forming machinery in China.
Emhart said the complete takeover emphasises the importance of the Chinese market and will lead to a rapid and more systematic development of the subsidiary.
In 2011, Bucher Emhart Glass acquired a stake of 63% of Shandong Sanjin, which is located in Zibo. Sanjin produces standard glass forming machines, inspection machines and annealing lehrs specifically for the Chinese market. Bucher Emhart Glass exports glass forming and inspection machines, serving China’s high-end segment only.
The complete takeover of Sanjin by Bucher Emhart Glass will be concluded over the next few months.
Emhart said it will foster even stronger collaboration between the two companies as well as the systematic and direct application of knowledge regarding technology, production efficiency and product development.
Sanjin will also profit from the best practices and management processes of Bucher Emhart Glass.