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EMS Group takes complete control of its Asian investment company EFTEC Asia Pte. Ltd.
EMS Group takes complete control of its Asian investment company EFTEC Asia Pte. Ltd.
With its companies combined in the EMS-CHEMIE HOLDING AG and with global
activities in the business areas Performance Polymers and Fine Chemicals /
Engineering, the EMS Group has taken complete control of its Asian investment
company EFTEC Asia Pte. Ltd., Singapore, and in this way, of its whole automotive
supply business of EFTEC in Asia.
As worldwide supplier to the automotive industry, EFTEC develops, produces and
markets materials and application technology in the specialised fields of bonding,
coating, sealing and sound damping, and holds a leading market position with these
applications, both in Asia and worldwide.
EFTEC Asia Pte. Ltd., which holds all participations of the EFTEC companies in Asia,
was originally a joint venture between the partners EMS, H.B. FULLER and NITTOKU,
with EMS holding the majority with a 60% share. In 2007 EMS purchased the 20%
holding from H.B. FULLER. As per yesterday evening, May 27, 2010 EMS took over
the remaining 20% share from NITTOKU. The purchasing price amounted to USD 9.5
million.
With this transaction, EMS is confident of increasing successful growth in the
strategically important Asian market, even more consistently in future. The existing
strong partnership between EMS-EFTEC and NITTOKU for Japanese customers,
based on licence agreements, will continue unchanged and even be expanded to
cover additional markets.