Frontmatec has entered into an agreement to acquire Jining Xinglong Food Machinery Manufacturing Co., Ltd. (“Xinglong”), a leading supplier of equipment to the red meat industry in China. The transaction will provide Frontmatec with market access in China and in addition a local production setup dedicated for the Chinese market. Furthermore, Xinglong will benefit from transfer of advanced technology from Frontmatec.
“We have been in close dialogue with Xinglong for nearly one year, and we are very impressed with the development of the company and the current management team," CEO Henrik Andersen said. "Xinglong has strong capabilities within the industry and close relationships with the largest customers in China. The acquisition enables Frontmatec to strengthen our market position and to be able to tap into the large growth potential in China.”