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Forbo Strengthens Presence In China With Victa Acquisition
Forbo recently announced that it has acquired 100% of the Chinese adhesives business Victa Technology Holdings Limited. This acquisition provides Forbo with an industrial platform to strengthen the group's presence with adhesives in the Greater Chinese market. Victa produces and distributes adhesives for the converting, packaging and woodworking industries, and has production facilities in Guangzhou and Shanghai. Founded in 1996, Victa recorded sales of some CHF 17 million in 2004. Forbo and Victa have not disclosed information on the purchase price.