Felix Schoeller Group and the Welbon Group of Hangzhou, China, enter into a joint venture
The Felix Schoeller Group and the Welbon Group of Hangzhou, China, who trade in pulp and manufacture specialty papers, signed a cooperation agreement on 18 January 2017. The agreement establishes a 50/50 joint venture: Winbon Schoeller New Materials Co. Ltd. The new company’s headquarters are in Longyou in Zhejiang province in the People’s Republic of China.
“The joint venture is the result of two years of intensive talks and planning sessions with the Welbon Group,” says Dr Bernhard Klofat, CEO of the Felix Schoeller Group. “It is a way for us to create a platform to manufacture specialty papers in China, which is set to hold a leading position in the Asia-Pacific region in the next years.”
By pooling the two companies’ technological competencies in research, development and production and our knowledge of the market and products the joint venture will be able to develop and produce decor papers, papers for food and pharmaceutical packaging, wallpaper base, sublimation papers, release and casting liners and other high-quality specialty papers and market them in the Asian region. The agreements also include an extensive investment programme.
Fangda Partners were among the joint venture advisers.