Freudenberg & Vilene JV buys out 'Nantong Hymo' - Chinese shirt interlining market leader
17 Jun '05
3 min read
The management and staff of Nantong Hymo openly welcome the acquisition by Freudenberg & Vilene International Ltd. Mr. Ge Tong, CEO of Nantong Hymo., will continue to lead the company and will be closely integrated into the leadership team of Freudenberg & Vilene.
Considerable investment for additional technologies is planned for the near future. Production and sales of Nantong Hymo are expected to grow by over 10% p.a. during the next five years. Dr. Andreas Kreuter, Global General Manager of Freudenberg´s Interlining Division, explained that "customers will benefit from the extended product range and the strengthened service network of the extended company".
The acquisition was facilitated and supported by the Nantong City Government in its goal to shift formerly state-owned assets into reliable private hands and foster growth and prosperity in the Jiangsu province. Nantong Hymo will operate under the new name Freudenberg & Vilene Interlinings (Nantong) Co. Ltd.
The Freudenberg Group, Weinheim, Germany, holds 50% of the shares of Freudenberg & Vilene International Ltd. With revenues of over EUR 4.4 billion and over 32.000 employees throughout 53 countries, Freudenberg is an internationally diversified family-owned company with a broad assortment of products including nonwovens, speciality lubricants and vibration control components. Freudenberg is active in China since 1925 and operates today 22 factories and sales offices in Greater Chi5 and operates today 22 factories and sales offices in Greater China with over 6300 associates in this region.
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