Fong's Forms Joint Venture With Stork Prints, Acquires Goller

Hong Kong-based Fong’s Industries Co. Ltd. and The Netherlands-based Stork NV’s Stork Prints have announced plans to form a joint venture for the production, sales and service of rotary textile printing systems and auxiliaries in Asia. The companies expect to reach final agreement on the deal within the next few months.

“This alliance makes sense and will have a positive impact on the global markets,” said Dick Joustra, president, Stork Prints. “The proven technology by Stork made to the high quality standards of Fong’s is an attractive combination and will be beneficial for all our customers.”

In other Fong’s news, the company recently acquired the inventory, fixed assets and intellectual property rights of Germany-based GTM Goller Textilmaschinen GmbH. The company, now known as Goller Textilmaschinen GmbH, will continue to employ some 60 people, and company management and operations will remain unchanged.

“The aim of this acquisition is to strengthen the overall portfolio of the Fong’s Group,” said Bill Fong, executive director of European Operations.

“The synergies we now have with Fong’s are tremendous and as a part of a financially strong group of companies, we look forward to leveraging the benefits it will bring from research and development and economies of scale,” added Hans-Eckhard Meiler, managing director, Goller Textilmaschinen.

May/June 2006

 

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