China Zhongwang Acquires ALUnna
First Overseas Acquisition to Strengthen Foothold Globally

Time:13 September 2017 Font size

Hong Kong, Beijing China, Unna Germany, 13 September 2017 – China Zhongwang Holdings Limited (“China Zhongwang” or the “Company”, together with its subsidiaries the “Group”, stock code: 01333) announced the first international acquisition to strengthen its foothold in the international aviation sector. Through a wholly-owned subsidiary, China Zhongwang has acquired a controlling stake in Aluminiumwerk Unna AG (“Alunna”), a well-established aluminium extrusion maker based in Unna, Germany that provides high-end extrusion products, mainly seamless tubes, to world-leading aircraft manufacturers.

“We greet ALUnna and would like to welcome ALUnna to our China Zhongwang family,” Mr. Lu Changqing, President and Executive Director of China Zhongwang, said. “The acquisition marks a milestone in our international expansion and a major step in complementing the Company’s business. I am confident that this transaction will generate synergies between China Zhongwang and ALUnna, as both companies share the belief in delivering excellent solution to the customers through unremitting innovation and tireless commitment, while focusing on clean and sustainable development. The transaction would also substantially enhance China Zhongwang’s production capability in seamless extruded aluminium tubes for further optimising our product mix. Furthermore, with ALUnna’s product quality credentials and experience in customer development, the acquisition will expedite the Group’s business expansion into, among others, aviation and automobile industries, therefore enhancing the Group’s overall competitiveness. We look forward to supporting ALUnna in accelerating its expansion in the long run with extended resources and financial flexibility.”

ALUnna manufacturers a myriad of high value-added aluminium alloy extrusion products including seamless and porthole extruded aluminium tubes, which are extensively applied in various end-use sectors from aviation, mechanical engineering, automobile, to electric power industry, serving a number of world-renowned clients including Airbus, Boeing, Bombardier, Mercedes-Benz and BMW. Over the past century since its establishment in 1914, ALUnna has accumulated industry leading R&D strengths and developed an integrated production line beginning with the melting, alloying and casting of aluminium billet, through extrusion and drawing, to final heat treatment and cutting of the semi-finished products.  It has established itself as one of the industry-leading manufacturers in Europe and around the world.

Commenting on this transaction, Thomas Wiese, CEO of ALUnna, said: “We are especially pleased about this acquisition by China Zhongwang, a reliable strategic shareholder. Being the world’s second largest aluminium extruder, China Zhongwang will provide us additional resources to expand our operations and propel long-term growth, to reinforce our international reputation and recognition, and to strengthen our position as a world-leading supplier. We look forward to working closely with China Zhongwang to ensure a seamless and smooth transition. We expect the transaction to create further career development opportunities for the existing employees and create new jobs. ALUnna together with China Zhongwang have the goal of continuing to generate lasting values for customers, partners, employees and shareholders worldwide.”

China Zhongwang has been strategically unfolding its global foothold. It has set up sales offices in Germany and Japan to support overseas sales business. Through the acquisition of ALUnna, the market leader in Germany and within Europe, China Zhongwang will further expand the European market.