DGAP-News Joyou AG opens new ceramic plant
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DGAP-News: Joyou AG / Key word(s): Miscellaneous
Joyou AG opens new ceramic plant
13.09.2011 / 12:00
Frankfurt am Main, 13 September 2011. Joyou AG, a leading bathroom solution
supplier in China, opened its new ceramic plant in Nan´an, Fujian Province.
After a start-up phase of several weeks the plant will begin ramping up
production in October 2011.
The ceramic plant has 80 bench casting lines with a maximum annual
production capacity of up to 600,000 pieces. Joyou will start with the
production of 9 toilet product styles. Further 50 products, including
basins, are in the development stage and are expected to enter the
manufacturing phase over the coming months. All new toilet styles are
environmentally friendly - their consumption of water is lower than the
official standard (4.8 litres or less vs. 6 litres).
The ceramics plant covers a floor space of 70,000 sqm, and contains both a
flow kiln and a static kiln. Joyou AG will employ over 500 people in the
new plant. Construction of the ceramics production facility had started in
December 2011 after approval of the Supervisory Board. The delays of about
3 months in start-up and the slower than anticipated ramp-up, are related
to personnel training and process management needed to ensure high quality
products and efficient management.
Jianshe Cai, CEO of Joyou AG commented: ´The installation of the new
ceramic plant is in line with our overall growth strategy. The new facility
gives us the opportunity to expand our product portfolio by bringing
in-house the ceramics manufacturing capability and at the same enhance
quality and cost control.´
About Joyou
Joyou (ISIN DE000A0WMLD8, WKN A0WMLD, Ticker Symbol JY8) designs, produces
and sells faucets and other sanitary ware products in China under its brand
name ´Joyou´ and is also engaged as a OEM/ODM-manufacturer for
international brands and trading companies in the United States and Europe
as well as other emerging markets. In 2010 Joyou was one of the leading
single-brand manufacturers of bathroom, kitchen and other faucets in China
in terms of revenues (according to BSRIA´s China Bathroom Study 2011).
Joyou has established an extensive distribution network in China with 3,773
retail points of sales as of 30 June 2011.
Joyou´s operating facilities are based in Nan´an near Quanzhou in Fujian
Province in China. Joyou´s nine main product groups sold in its own brand
business are Bathroom Faucets, Kitchen Products, Shower Products, Ceramics
and Bathtubs, Bathroom Cabinets, Bathroom Accessories, Other Faucets and
Sanitary Hardware, Copper and Semi-Finished Components, Grohe Business. In
2010, Joyou realised group revenues of EUR 246.6 million, an operating
profit (EBIT) of EUR 43.7 million and a net profit of EUR 33.2 million.
For further information, please contact:
Joyou AG
Westhafentower, Westhafenplatz 1,
60327 Frankfurt am Main
Ian M Oades, tel.: +49 69 710 456 346 or +86 595-8618 8883, ir@joyou.net
Kirchhoff Consult AG
Jens Hecht, tel.: +49 40 60 91 86 0, jens.hecht@kirchhoff.de
or visit the company website at: http://www.joyou.com
Disclaimer concerning prognoses
This communication contains forward-looking statements. Forward-looking
statements are statements that are not historical facts instead they
reflect Joyou´s current views and expectations and the assumptions
underlying them about future events. Forward-looking statements are subject
to many risks and uncertainties. If any of such risks and uncertainties
materialize or if the assumptions underlying any of Joyou´s forward-looking
statements are proving to be incorrect, Joyou´s actual results may be
materially different from those expressed or implied by such
forward-looking statements. Joyou does not intend or assume any obligation
to update these forward-looking statements. Any forward-looking statement
speaks only as of the date on which it is made.
End of Corporate News
13.09.2011 Dissemination of a Corporate News, transmitted by DGAP - a
company of EquityStory AG.
The issuer is solely responsible for the content of this announcement.
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Media archive at www.dgap-medientreff.de and www.dgap.de
Language: English
Company: Joyou AG
Westhafentower, Westhafenplatz 1
60327 Frankfurt am Main
Germany
E-mail: ir@joyou.net
Internet: www.joyou.de
ISIN: DE000A0WMLD8
WKN: A0WMLD
Listed: Regulierter Markt in Frankfurt (Prime Standard);
Freiverkehr in Berlin, Düsseldorf, München, Stuttgart
End of News DGAP News-Service
139102 13.09.2011
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