6th Jan 2017 07:31
LONDON (Alliance News) - Cellular material technology company Zotefoams PLC on Friday said it has taken full ownership of its Chinese joint venture with King Lai Group.
Zotefoams originally entered the deal with King Lai in 2015 to create the Kunshan ZOTEK King Lai venture to manufacture and sell Zotefoams' T-FIT insulation products.
King Lai had held a 49% stake in the venture but Zotefoams has now taken over the whole business for an undisclosed amount.
"With Kunshan ZOTEK King Lai now a wholly owned subsidiary, Zotefoams is well placed to fully capitalise on the potential of T-FIT clean-room products, while also giving us a platform to extend the range of products under the T-FIT brand during 2017," said Zotefoams Chief Executive David Stirling.
By Sam Unsted; [email protected]; @SamUAtAlliance
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