China-based Truking Group has acquired a 75.1% share in Romaco Group from Deutsche Beteiligungs (DBAG).
Completion of this deal followed the signing of a sales agreement between DBAG and Truking Group in April. Under the deal, DBAG will hand over the remaining 24.9% shares in Romaco to Truking within the next three years.
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Truking Group chairman Yue Tang said: “Our aim is to take Romaco forward and increase our share of the global markets with a mixture of confidence, determination, patience, and endurance.”
As part of its plan to strengthen Romaco, Truking also aims to make additional strategic acquisitions to expand and enlarge various Romaco sites. The company has already started construction of a new plant at Romaco’s Bologna site and a new laboratory will be opened in China to support Romaco’s research and development (R&D) activities in the area of process technology.
Romaco Group CEO Paulo Alexandre said: “Despite the language barriers, communication with Truking has been extremely efficient and decision processes are very fast.
“That widens our leeway to develop new strategies which will strengthen our position in the market.
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By GlobalData“Now that the transaction has been brought to a successful conclusion, we’re looking forward to applying the measures adopted.”
With production facilities in Karlsruhe and Bologna, Romaco develops packaging and processing technologies for the pharmaceuticals industry.
Image: Representatives of Romaco Group and Truking Group. Photo: courtesy of Romaco Group.
