To bolster its presence in the Chinese market, Albéa announced the acquisition of Zhongshan Meiquan Plastic Products Co Ltd, part of the Tex R.L. group. The company, which is better known under the name Tex China, manufactures packaging for the cosmetics and perfumery sectors. The Guangdong Province, China company has 700 employees and three factories specializing in the production of mascara, lipgloss, lipstick, pots and cases. In 2011 the company had a turnover of $20 million, of which 80% came from exports. With its five production sites throughout China and a sales office in Shanghai, Albéa is significantly strengthening its presence on the Chinese market.
“The acquisition of Tex China and its attractive portfolio of standard solutions have allowed Albéa to consolidate its global product offer. We also have a local innovation and development team, a necessary tool if we want to penetrate the fast-growing Chinese market,” said François Luscan, president and CEO of Albéa.
With this purchase, Albéa will also offer new expertise on Chinese territory to its international customers. For instance, technologies such as metallization and varnishing are now available in the decoration and finishing sector. With this latest acquisition, Albéa has 10,200 employees and 36 sites across 13 countries and is consolidating its global leadership by offering a wide range of packaging solutions for the makeup, skin care, perfumery and oral hygiene sectors.
More info: www.albea-group.com