NORMA Group completed its acquisition of Fengfan Fastener Co. based in Shaoxing City, China. Terms of the deal were not disclosed.

“After having acquired and successfully integrated companies in Malaysia and Australia, we are now strengthening our presence in the important growth market of China with the majority stake in Fengfan,” stated NORMA CEO Werner Deggim.

Founded by CEO Zhu Jialin in 1988, Fengfan manufactures joining products made of stainless steel, nylon and specialty materials. Its portfolio includes cable ties, fastening elements and specially coated, fire-resistant textiles, for example. The company uses cutting, coating, casting and injection molding processes in production.

Fengfan employs 190 workers to supply the shipbuilding, heavy industries and transport vehicles markets. Its products are marketed on the domestic Chinese market and exported to other countries, with annual sales of EUR 15 million (US$16.2 million) in 2016.

Germany-based NORMA Group manufactures joining products in three categories (clamp, connect and fluid) and offers more than 35,000 products to more than 10,000 customers in 100 countries. The company reported revenue grew 0.6% to EUR 894.9 million (US$942.8 million) in 2016, including 0.9% in organic growth for the year. Web: normagroup.com