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DGAP-News: NORMA Group SE / Key word(s): Acquisition/Mergers & Acquisitions NORMA Group holds 100% of shares in Chien Jin Plastic, Malaysia

10.02.2014 / 09:10

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NORMA Group holds 100% of shares in Chien Jin Plastic, Malaysia

Maintal, Germany/Ipoh, Malaysia, 10 February 2014 - NORMA Group, an international market and technology leader for engineered joining technology, has acquired the remaining 15% of the shares in Chien Jin Plastic Sdn. Bhd. ('Chien Jin Plastic') effective 07 February 2014. Chin Jin Plastic is headquartered in Ipoh, Malaysia, and manufactures thermoplastic joining systems. This transaction brings NORMA Group's share in the company to 100%. The parties agreed to maintain confidentiality on the transaction details.

In November 2012, NORMA Group acquired 85% of the shares in Chien Jin Plastic. By doing so, the company significantly strengthened its business activities in South East Asia and extended its infrastructure product range. Chien Jin Plastic manufactures joining solutions for plastic and cast iron pipe systems used in diverse applications with a focus on drinking and domestic water supply as well as irrigation systems. The company also produces components for sanitary appliances.

Chien Jin Plastic generated record sales in 2013. Compared to 2012, sales grew organically by more than 10% to about EUR 8 million. Chien Jin Plastic has adjusted its offering to cater to its clients' demands even more strongly. Its joining products have been introduced to the European and Australian markets via NORMA Group's distribution channels. Chien Jin Plastic has also launched new product developments, for instance the 'metric range' and 'rural range' fittings in Australia and New Zealand. As at 31 December 2013, the number of employees had grown to 175 compared to 144 at the end of 2012.

'The integration of Chien Jin Plastic into NORMA Group has been successful and we are already reaping the rewards. We are very proud of the business success,' says Werner Deggim, CEO of NORMA Group. 'Since we will continue to develop innovative products for water management, we expect Chien Jin Plastic to continue its profitable growth in financial year 2014.'

Chien Jin Plastic has been in the market for over 20 years and has distributed its products inter alia under the Fish brand to over 250 distributors in about 30 countries globally. NORMA Group has been present in South East Asia since 2004, operating sites in Singapore, Malaysia, Thailand, Indonesia and on the Philippines.

Additional information on the company is available on http://www.normagroup.com. To download press pictures, please visit http://www.normagroup.com/press pictures.

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PRESS RELEASE: NORMA Group holds 100% of shares in Chien Jin Plastic, Malaysia