Pickering Pacific is pleased to announce that its client, NORMA Group, a global market and technology leader for engineered joining technology based in Germany, acquired the remaining 15% of the shares of Chien Jin Plastic on 7 February 2014. Pickering Pacific advised NORMA Group on its acquisition of Chien Jin Plastic which resulted in the acquisition by NORMA Group of an initial 85% stake in November 2012. This acquisition was NORMA Group’s first acquisition in Asia.
Chien Jin Plastic is based in Ipoh, Malaysia, and principally manufactures thermoplastic joining elements, in particular for drinking and domestic water distribution and irrigation systems.
In the announcement of the acquisition of the remaining 15% stake, Werner Deggim, CEO of NORMA Group, declared: “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”.
We are pleased that the acquisition of Chien Jin Plastic is bearing fruits for NORMA Group and its shareholders.
You can access NORMA Group’s press release by clicking on the following link [NORMA Group’s press release].