3A Composites signs joint venture agreement with Tiansheng New Materials, China
Schweiter Technologies /
3A Composites signs joint venture agreement with Tiansheng New Materials, China
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Horgen, 18 April 2011 - 3A Composites, a division of Schweiter Technologies, has
signed a joint venture agreement with the Chinese Group Tiansheng New Materials
to jointly market structural core materials in China. Tiansheng is an up-and-
coming producer of PVC foams. 3A Composites is now the exclusive distributor
worldwide of Tiansheng's core materials.
Growth in the Chinese core materials market has been very strong in recent years
and 3A Composites has established itself as a leader in this market with its
Airex® foam and Baltek® balsa wood products. The Chinese market will continue
its dynamic growth, mainly through the expansion of wind energy. The joint
venture will provide the Chinese market with locally produced PVC foam as well
as maintaining a steady supply of balsa wood products. Besides focusing on
China's important wind energy market, the joint venture will also engage in
structural sandwich applications, e.g. in the bulk freight and marine segments.
Each party is investing a lower single-digit CHF million amount in the joint
venture.
Tiansheng New Materials is a listed company based in Changzhou, Jiangsu
province, with revenues in the region of RMB 350 million and approx. 1,100
employees. Tiansheng has been developing, producing and selling soft foams for
some years, e.g. for sports goods and precision seals in electronic components.
Tiansheng has been investing in structural foams since 2007 and will pursue its
development work with 3A Composites. Having evaluated several potential
partners, 3A Composites identified Tiansheng as the company with the strongest
product-related and technological position.
Please find the Media release in the PDF attached:
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Schweiter Technologies
Neugasse 10 Horgen Switzerland
Media release (PDF):
http://hugin.info/100347/R/1507158/442010.pdf
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Source: Schweiter Technologies via Thomson Reuters ONE
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