Baar, Switzerland, January 11, 2006--Forbo has acquired 100 % of the Chinese adhesives business Victa Technology Holdings Limited.
This acquisition provides Forbo with an industrial platform to strengthen the group’s presence with adhesives in the greater Chinese market. The Chinese company Victa produces and distributes adhesives for the converting, packaging and woodworking industries and has production facilities in Guangzhou and Shanghai. Victa was founded in 1996 and, in 2004, recorded sales of some CHF 17 million. The parties agreed on not disclosing information on the purchase price.
Forbo is already represented in China with a belting production plant in Shenyang in the north of the country, and with a sales organization for floor coverings and adhesives in Shanghai. With the acquisition of Victa, the number of Forbo employees in China will rise to over 350.
