Fong's Acquires Monforts

摘要

Fong's Industries Co. Ltd., Hong Kong, a subsidiary of China Hi-Tech Group Corp., has acquired Germany-based dyeing and finishing machinery maker A. Monforts Textil-maschinen GmbH & Co. KG., from Monforts'parent company, L. Possehl Co. & mbH, Germany. The acquisition also includes Monforts subsidiary Montex-Maschinenfabrik Ges.m.b.H and its production site in Austria; and Monforts'50-percent stake in Monforts Fong's Textile Machinery Co. Ltd. (Mon-fongs) - a joint venture established in 1998 by Monforts and Fong's. Possehl will hold a 9.9-percent share of Monfongs.