Il Bolzoni Group conquers China. The Piacenza-based company, already the European market leader in forklift attachments, is advancing more and more on the Asian market: China is the first market worldwide in the sector, higher than the USA and Europe combined.
In fact, on 22 October in Shanghai the completion of the execution of the contract was defined the Tiger group of Taiwan acquires 20% of Bolzoni Holding Hong Kong from Bolzoni Spa for an amount of approximately 2 million euro in cash, with total subscription in a capital increase, which will be used to pursue the development plans already started by the Bolzoni group in China.
The Asian holding company of the Piacenza group, European leader in the forklift attachment market currently controls 60% of Bolzoni Huaxin Co. Ltd., a company active in the production of forks, with a production plant that at full capacity will produce 150 forks and 20% of Huaxin Forks Co. Ltd., historic Chinese company leader in the
sector.
Furthermore, Bolzoni Hong Kong Holding controls 100% of Bolzoni Wuxi, a company which starting from the second half of 2012, it will produce forklift attachments for the entire Asian market and part of the components for the production companies of the Group. The Tiger group is a Taiwanese conglomerate mainly active in the logistics and electronics sectors.
Roberto Scotti, Chief Executive Officer of Bolzoni describes the operation “as an acquisition that recognizes and rewards the strategy and investments made and planned up to now by the Bolzoni group in China. The Tiger group has recognized that the steps taken by Bolzoni in China have provided the Piacenza group, in just under a year, with an extremely competitive production and distribution platform. The alliance with Tiger, a group active in China in the logistics and electronics sector, represents an added value for the distribution network and for market knowledge. "
Bolzoni and Tiger boast a relationship of more than ten years, for having been successful, first commercial partners and then partners in a Joint Venture in China, which will be absorbed by Bolzoni Wuxi. Bolzoni Spa was assisted in the operation by Federico Palazzari, partner of Palazzari & Turries, a company owned by Tamburi Spa, shareholder, among other things, of a minority stake in Bolzoni Spa.
"Rarely – says Palazzari – have we seen an Italian group that managed to position itself so convincingly in China in one year, by first acquiring a minority stake in one of the most interesting Chinese companies in the sector, building two plants and involving the Tiger group. The entry of the Taiwanese group, which has been operating in China for thirty years, is a great demonstration of the capabilities and the goodness of the investments made by Bolzoni in China”.
China is now the largest forklift market in the world, exceeding the aggregate markets of Europe and the USA in volume and valued at around 30 million Euros in 2010 volumes. Even with regard to attachments for forklift trucks, the Chinese market is undoubtedly already a very interesting market, estimated at around 50 million Euros, but above all with very high growth rates in the coming years which will lead it to be the first market in the world.
