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April 8, 2008

Carbone Lorraine finalizes its 1st acquisition in China

Gerald Ondrey

Carbone Lorraine (Paris, France; www.carbonelorraine.com) has finalized its first acquisition in China by purchasing 100% of Xianda, a company specializing in the manufacturing of advanced technology equipment in steel and stainless steel for the chemicals and pharmaceuticals markets. Xianda, which is located in the suburbs of Shanghai, where it has 400 employees, has been a historical partner of Carbone Lorraine in terms of its supplies. This Chinese company is recognized for its high quality standards. In 2007, its sales exceeded $20 million, with 80% deriving from Western companies operating in China and export markets, including, namely, major chemicals, pharmaceuticals and oil groups.

Thanks to this acquisition, Carbone Lorraine will strengthen its manufacturing base in China. Xianda owns an exceptional 67,000 m2 facility that will complement Carbone Lorraine’s anticorrosion sites, while significantly expanding its production capacity.

Aside from the industrial benefits of the deal, this acquisition will help to enrich Carbone Lorraine’s offering, which is predicated on highly reputed expertise in noble metals equipment. For its part, Xianda possesses recognized expertise in very large steel and stainless steel equipment. The strong fit between these two skill sets will enable Carbone Lorraine to establish itself as a key partner for the modern Chinese chemicals and pharmaceuticals industry, which is generating steadily growing demand for noble metals. By marketing this extensive range of products, Carbone Lorraine will consolidate its leadership positions, strengthen its presence in the fast-expanding acetic acid market and establish a foothold in the petrochemicals market.

The acquisition will also enhance the competitiveness of Carbone Lorraine, which will provide all of its units with the benefit a low-cost source of steel and stainless steel, since China has become the world’s leading producer of these materials.  Thanks to the synergies harnessed through this link-up, the new unit’s sales are expected to triple over five years.

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