Plastics Capital, the niche plastics products group and owner of C&T Matrix Ltd, today announced it has exchanged contracts to acquire Higher Shengli ('Shengli'), a wholly owned subsidiary of Higher Group in China.
Shengli is the market leader in China and Far East Asia for creasing matrix and has been established for over 15 years. The acquisition of Shengli means Plastics Capital/C&T Matrix is now the worldwide market leader in creasing matrix. It further complements C&T's strategy to pursue growth in developing economies, where manual production methods are giving way to automated methods using C&T's product technologies. Shengli's well established distribution channels in China, combined with C&T's dealer network in the rest of the world, will bring customers access to an excellent range of manufactured products as well as improved service and availability.
Faisal Rahmatallah, Chairman and CEO of Plastics Capital, comments: "China is one of the fastest growing markets for creasing matrix thanks to the increasing sophistication of local packaging producers and an increase in demand within the country for consumer goods. Shengli is the market leader in China and has developed a strong brand and excellent distribution network across the entire region. The years of know-how and technical expertise that C&T has developed over the past 60 years, together with the established brand and customer reach of Shengli in China, will combine to bring customers a world-class product offering for die cutting and creasing products."
Shengli is a well-established and highly regarded company which is strongly aligned to Plastics Capital's business and values. Their combined expertise will help to grow the Group's overall matrix business through the joint development of new products which respond to the ever changing demands of the market, superior quality testing, improved product availability and distribution and a wider overall portfolio of products.
Simon Shenton, Managing Director of C&T Matrix says: "Our two companies share many core values – we have similar foundations and both have a commitment to meet the real needs of clients, helping them to optimise productivity within their organisations and enhance the quality of their finished product. Over the past decade C&T has continued to grow its client base organically and has increased its global footprint substantially despite challenging economic conditions. With now over 130 distributors across 70 countries, we are the leading producer of creasing matrix worldwide and we continue to have strong ambitions for future growth, as evidenced by acquisitions such as Shengli which bring us improved market penetration in growth territories."