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Henkel To Establish New Joint Venture In China
December 5, 2005
The Henkel Group has announced the acquisition of a majority stake in Huawei Electronics Co. Ltd., Lianyungang, in the Chinese province of Yiangsu. Huawei Electronics Co. Ltd. is a leading manufacturer of epoxy molding compounds for semiconductors in China with 560 employees and generated sales of approximately 18 million euros in fiscal 2004. The joint venture with Huawei Electronics presents a unique opportunity for Henkel to extend its global presence and broaden its product portfolio. Huawei Electronics' growing domestic customer base provides a good counterpart for Henkel's internationally established brand. The close partnership of these businesses is expected to position Henkel Huawei Electronics Co. Ltd. among the well-known suppliers of epoxy molding compounds (EMC).