Emhart Glass, the leading global supplier of machinery and equipment to the glass manufacturing industry, is pleased to announce that it is entering into a joint venture with Shandong Sanjin Glass Mac…
Emhart Glass, the leading global supplier of machinery and equipment to the glass manufacturing industry, is pleased to announce that it is entering into a joint venture with Shandong Sanjin Glass Machinery Co. (Sanjin“), based in Zibo in Shandong Province, China. Sanjin is China“s undisputed market leader for container glass machinery and equipment. Having become a privately held company in 2004, the firm has grown rapidly to achieve sales of CNY 371 million and around 1,200 employees by 2010. The joint venture offers a perfect fit in terms of product portfolio. While Sanjin focuses on low-cost glass forming machines, forehearth, annealing lehrs and palletizers for the domestic market, Emhart Glass imports more advanced glass-forming and inspection machines. Under the joint-venture deal, which is subject to approval by the Chinese authorities, Emhart Glass will acquire a 52% equity interest in Sanjin and subscribe to a capital increase bringing its final holding to 63%. The new venture will operate independently of the Emhart Glass group, under the Sanjin brand name and management. Emhart Glass will provide additional management expertise and technology know-how. I“m delighted that we have finalized this joint-venture deal, which will be hugely beneficial for both parties, comments Martin Jetter, Emhart Glass“ President. Strategically, our aims are perfectly aligned, and our product ranges are highly complementary. We believe the combination of Sanjin“s cost-effective equipment and our advanced technology will create a major new force and set new standards, for glass forming as well as for glass inspection, in this fast developing country. On a commercial level, China“s continuing economic growth, coupled with international breweries choosing to site their production here, is driving strong demand for high-quality glass containers. We feel this joint venture is the ideal way for both companies to meet local demand for efficient, accurate glass production for the years to come. Emhart Glass, a division of Bucher Industries AG, is headquartered in Cham, Switzerland, with offices and manufacturing facilities located throughout the world. The company is a leading supplier of machines, controls, and parts to the glass container industry.