Adval Tech Group selling its property in Xiamen

Niederwangen, (PresseBox) - The Adval Tech Group is proceeding with its restructuring drive in China and is selling a property in Xiamen no longer required for operating purposes to Xiamen Voke Mold & Plastic Engineering Co., Ltd.

Adval Tech had already announced in the second half of 2012 that it would sell this property in Xiamen. The property is no longer necessary for operations owing to the integration of Omni Plastics (Xiamen) Co., Ltd.'s activities into the component manufacturing plant in Suzhou. It is the last significant asset of Omni Plastics (Xiamen) Co., Ltd.

The Adval Tech Group has now found the ideal purchaser in the form of Xiamen Voke Mold & Plastic Engineering. Both parties have agreed on the transfer of all shares in Omni Plastics (Xiamen) Co., Ltd. for legal and practical reasons. It was agreed that the sale price would not be disclosed. Subject to approval by the Chinese authorities, the contractual partners expect to close the transaction by the end of the year.

As part of its systematic drive to focus, simplify its structures and exploit synergies, Adval Tech now has just one location in China, namely in Suzhou. The Group has therefore concentrated its mold making industry in Suzhou in addition to component production.

Background information on Xiamen Voke Mold & Plastic Engineering

Xiamen Voke Mold & Plastic Engineering is a leading global supplier in injection molding technology - from tool development through to the finished product. Its main sales markets include the medical sector (medical devices, diagnostics, medicament administration systems) as well as the automotive, IT and consumer goods industries. The company posted annual turnover of USD 28.7 million in 2012 and has a workforce of around 430.

Adval Tech Gruppe

Adding value through innovations - that's what Adval Tech stands for. As a global technology and process partner Adval Tech focuses on the complementary technologies of metal stamping and forming and plastic injection molding. In selected markets in the automotive, medical technology and consumer goods sectors, Adval Tech is a leading global supplier of series parts, subassemblies, systems and tools. As a supplier and value-adding partner, Adval Tech covers the entire value chain: from product design and the development of series parts through construction and production of the necessary tools and molds to entire production systems and the resulting manufacture of components. Adval Tech operates in the markets under the names AWM, FOBOHA, Omni, QSCH, Styner+Bienz and Teuscher.

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