综合一区欧美国产,99国产麻豆免费精品,九九精品黄色录像,亚洲激情青青草,久久亚洲熟妇熟,中文字幕av在线播放,国产一区二区卡,九九久久国产精品,久久精品视频免费

Global EditionASIA 中文雙語Fran?ais
Business
Home / Business / Companies

Zhongwang acquires majority stake in SilverYachts

By Zheng Xin | China Daily | Updated: 2017-10-27 07:52
Share
Share - WeChat

Models sunbathe on the deck of a recreational a yacht show in 2015 in Sanya, Hainan province. [Photo provided to China Daily]

Hong Kong-listed China Zhongwang Holding Ltd announced the completion of its acquisition of a majority stake in SilverYachts, an Australia-based all-aluminum superyacht builder, on Thursday, a strategic move to expand aluminum application in the high-end marine sector.

China Zhongwang, the world's second-largest aluminum extruder, said the acquisition is meant to advance the Chinese aluminum maker's deep-processing strategy to the marine sector, while boosting its international expansion.

"We are delighted to join hands with SilverYachts to navigate the high-end marine sector at full speed, as both companies share the same vision of offering best-in-class products that exceed client expectations," said Lu Changqing, president of China Zhongwang Holding Ltd.

While the cooperation will allow Zhongwang to further broaden its product applications in the marine segment with comprehensive coverage in the lightweight transportation domain including aviation, railways, automobiles, and navigation, the partnership will also give SilverYachts a stronger presence in Asia, it said.

"The partnership with China Zhongwang marks a new page for SilverYachts," said Guido Alexander Krass, team in Australia as well as in China."

Analyst said the acquisition of SilverYachts signifies the Chinese aluminum maker's resolution to directly enter the downstream-end product manufacturing business.

"China Zhongwang's acquisition of shares of SilverYacht shows the company's decision to target high-value added aluminum products, to gain higher margins instead of some low-margin industrial products," said Zhu Yi, a Hong Kong-based analyst at Bloomberg Intelligence.

"China's metal producers are working hard to upgrade their product mix, to gain exposure for high-end products."

Zhu said China is currently oversupplied with low-end commodity-grade metals such as aluminum, but in supply deficit for high-end products, such as high-end aluminum alloy for auto, airplanes, yachts and others.

The transaction complements China Zhongwang's recent acquisition of Alunna in Germany, and is another international acquisition that helps the company to expand its business segments and optimize its product mix, it said.

In September, China Zhongwang announced that it had bought a controlling stake in a German aluminum extrusion firm to add to its portfolio of high-value-added automotive and aerospace products and get exposure to Europe and the US market.

Top
BACK TO THE TOP
English
Copyright 1994 - . All rights reserved. The content (including but not limited to text, photo, multimedia information, etc) published in this site belongs to China Daily Information Co (CDIC). Without written authorization from CDIC, such content shall not be republished or used in any form. Note: Browsers with 1024*768 or higher resolution are suggested for this site.
License for publishing multimedia online 0108263

Registration Number: 130349
FOLLOW US
CLOSE
 
平凉市| 南川市| 安阳市| 平武县| 枞阳县| 桐柏县| 肇东市| 荥经县| 永定县| 玉龙| 樟树市| 长子县| 祁东县| 沙雅县| 吕梁市| 内黄县| 丹寨县| 西乌| 全南县| 怀集县| 通城县| 新源县| 称多县| 炉霍县| 双牌县| 泉州市| 阿城市| 健康| 芦山县| 平阳县| 米泉市| 山阳县| 怀宁县| 平山县| 衡东县| 荔波县| 阿拉尔市| 乐清市| 繁昌县| 北宁市| 汪清县|