The joint venture will allow Allnex to increase its presence in Greater China and to meet its ambitious growth targets. In order to support the increased sales in the region a new manufacturing facility will be built by the JV in Zhuhai, China.
“Since Allnex became an independent company in 2013, a focus of our strategy has been to further globalize our business,” said Allnex CEO Frank Aranzana. “Supported by Advent International, our shareholder, we have been looking from the start for opportunities to grow our presence in the emerging regions and we are proud to announce today our Joint Venture with Eternal. We firmly believe that the joint venture will help us to better service our customers in Greater China. ”