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Girbau Group signs Joint Venture with China

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GIRBAU and the Chinese company Shenguang wish to conquer the industrial laundry market in the Asian market

Girbau and the Chinese company Shenguang have signed an agreement today in Shanghai constituting a joint venture between the two laundry machinery manufacturing companies.

The operation is in line with Girbau’s strategic plan 2020, and the company’s intention to increase the share in the Chinese market.

Girbau will control the new company resulting from the joint venture, and plans to inaugurate a new production centre the coming July with more than 15,000 sq. metres devoted to the manufacture of machinery for laundries.

The plant will initially continue with the production of the Chinese partner’s current models, but the plan is to invest in the R&D needed for the gradual development of a new, competitive and high quality product range geared especially to the Chinese market. Girbau’s CEO, Mercè Girbau, stated during the signing ceremony for the joint-venture in Shanghai that "the initial goal is to grow vigorously in the Chinese market. It was clear to us that we needed a partner in the country if we wanted to make a strong entry into this huge Asian market. Once we attain a good market share in China, we do not discount the possibility of marketing the product manufactured in Shanghai in other emerging markets. "

Girbau added that “We’ve been analysing the partnering options in China for some time. Now, with Shenguang, we have found a good manufacturing centre, a good sales network and a powerful distribution network. We will provide the technology, the culture of quality and improved efficiency in the processes and they will provide their extensive knowledge and an introduction to the central laundry markets in China and infrastructure. It’s a win-win situation”.

With the operation, that was structured with the support of InterChina Capital, a China based corporate finance firm, the 150 Shenguang workers will be added to the Girbau team, which will now be close to 1,000 people worldwide. The Shenguang production centre will be added to the three production centres that Girbau has in Vic and one in France, with over 57,000 sq. metres devoted to manufacturing.

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