Fong's Acquires Monforts
"Monforts and Fong's fit together perfectly," said Alex Wan, CEO, Fong's. "Monforts is the leader in innovation in textile finishing machinery. It will considerably strengthen our international competitiveness, which has set course for worldwide leadership and excellence in the textile machinery business."
"Today's announcement intensifies our long-standing cooperation with Fong's and opens up new opportunities for Monforts," said Roland Hampel, managing director, Monforts. "Innovation stands at the core of our daily work and we look forward to strategically developing new business areas for our customers with our trusted and successful partners in China."
Wan and Hampel emphasized technical textiles as a prospective business area on which the companies will focus. The companies also plan to establish what they describe as the "textile machine factory of the future" in Zhongshan, China, in the near future.
June 21, 2012