GF Piping Systems divests a non strategic asset in China
23-Dec-2010
- China
GF Piping Systems, a Corporate Group of the Georg Fischer Corporation, divests Central Plastics Tianjin Ltd. The company, with a turnover of about 4 million US-Dollars, will be taken over by the current management.
With about 50 employees, Central Plastics Tianjin Ltd manufactures bitumen-based anticorrosion products that are not part of the core business of GF Piping Systems. The company, located in Tianjin, China, was part of Central Plastic Group, USA, acquired by GF Piping Systems in 2008.
The current management, in place since the establishment of the company, has the necessary know how to continue the business in the following years.
Other news from the department business & finance
