Fong's Industries acquires complete control of Monforts

摘要

Fong's Industries Co Ltd of Hong Kong has acquired complete control of A. Monforts Textilmaschinen GmbH & Co KG of Monchengladbach, Germany from its former owner, L Possehl Co & mbH of Liibeck, also Germany. The acquisition includes Monforts' Austrian subsidiary Mon-tex-Maschinenfabrik GesmbH, with its machinery production site in St Stefan.The 50% stake in the joint venture between Fongs and Monforts, Monforts Fong's Textile Machinery Co Ltd of Shenzhen, China, is also part of the transaction. As part of the deal, Possehl will take a 9.9% stake in Fongs.