DGAP-News

Ringmetall acquires smaller clamping ring producer in China - Seite 2

To increase synergies, HongRen's production will be relocated to the Chinese plant of Ringmetall Group in Changzhou. The goal is to continue and expand the business relationships with customers, to further optimize the company's high-quality products and to establish an ever-increasing quality awareness in the Chinese market for dangerous goods packaging. "In addition to the growing customer relationships, we will profit above all from the long-term market know-how and the very good customer and supplier relationships of HongRen", Petri emphasizes. "The increased production capacities are now also enabling us to export to Singapore, Malaysia, Korea and Australia." In addition, the production of lever closures is planned to be further increased in output numbers, expanding it to act as an internal supplier of Ringmetall Group.

Due to the administrative deadlines of the Chinese authorities, the Management Board of Ringmetall Group does not expect the transaction to be completed before the fourth quarter of 2017. The involved parties have agreed to remain silence about the purchase price. However, it reflects the commercially conservative nature of the Ringmetall Group.

At present, Ringmetall is in advanced stages of contract negotiations with further target companies. In the current fiscal year 2017, the company expects at least one further acquisition. Further information on the Ringmetall Group and its affiliated subsidiaries can be found at www.ringmetall.de.

 

Contact:

Ingo Middelmenne

Investor Relations

Ringmetall AG

Phone: [phone]

Email: [e-mail]

About Ringmetall Group

Ringmetall is an internationally leading specialist in the packaging industry. The Industrial Packaging business segment offers highly secure gasket and locking systems for the chemical, the petrochemical and the pharmaceutical industry as well as the food industry. The Industrial Handling business segment develops application-optimized vehicle accessory parts for the handling and transport of packaging units. Besides its headquarters in Munich, Ringmetall has worldwide production and sales subsidiaries in Germany, Great Britain, Spain, Italy, Turkey, the Netherlands, as well as in China and the USA. On a global scale, Ringmetall generates revenues of more than EUR 90 million per year.