Zotefoams PLC New venture with China-based King Lai Group
March 11 2015 - 11:51AM
RNS Non-Regulatory
TIDMZTF
Zotefoams PLC
11 March 2015
11 March 2015
Zotefoams plc
("Zotefoams" or "the Company")
Zotefoams enters new venture with China-based King Lai Group to
develop its insulation business
Zotefoams plc, a world leader in cellular material technology,
is pleased to announce the creation of a new venture with King Lai
Group ("King Lai"), to manufacture and sell insulation products.
The new venture will be called ZOTEK King Lai ("ZKL"). Zotefoams
and King Lai have a previous long-standing relationship for the
sale of T-Tubes(R) in China.
Building on the success of T-Tubes clean-room insulation
products for biotech, pharmaceutical and semi-conductor manufacture
facilities, ZKL will offer local supply into the market in China
and a more rapid response to other markets including Asia, India
and the Middle East.
ZKL is owned 51% by Zotefoams and 49% by King Lai and
manufacturing will be located in King Lai factory in Kunshan,
Jiangsu Province, China. Manufacturing of products made from
Zotefoams ZOTEK(R) foam materials is expected to begin in the
second half of 2015. Sales activity in China will be the direct
responsibility of ZKL, using King Lai as the exclusive distributor,
while all sales to customers outside China will be the
responsibility of Zotefoams Operations Ltd based in Thailand.
Commenting on this new venture David Stirling, Managing Director
of Zotefoams, said:
"I am delighted to extend our relationship with King Lai. Their
commitment to operational excellence and strong position in
products for clean-room markets make King Lai an ideal partner to
accelerate the development of our unique materials."
Enquiries
Zotefoams plc +44 (0)208 664 1600
David Stirling, Managing Director
Clifford Hurst, Finance Director
FTI Consulting +44 (0)20 3727 1000
Simon Conway / Victoria Foster
Mitchell
About Zotefoams plc
Zotefoams plc (LSE - ZTF) is a world leader in cellular material
technology. Using a unique manufacturing process with
environmentally friendly nitrogen expansion, Zotefoams produces
lightweight foams in Croydon, UK and Kentucky, USA for diverse
markets worldwide through its global sales force. Zotefoams also
owns and licenses patented MuCell(R) microcellular foam technology
from a base in Massachusetts, USA to customers worldwide and sells
T-Tubes(R) advanced insulation systems made from its patented
ZOTEK(R) fluoropolymer foams.
www.zotefoams.com
Zotefoams(R) and ZOTEK(R) are registered trademarks of Zotefoams
plc. MuCell(R) is a registered trademark of Trexel Inc. T-Tubes(R)
is a registered trademark of UFP Technologies Inc.
About King Lai Group
KunShan KingLai Hygienic Materials Co., Ltd. (KL) was founded in
1991 and listed as a public company on 6th September 2011. KL has
ASME BPE / ASME pressure vessel / PED and EHEDG certification,
making them the NO.1 in Asia. KL also supplies products compliant
with 3A, DIN, ISO. KL has significant expertise in hygienic
materials research and manufacture, including vacuum vessel, pump,
valve, flange, pressure vessel, tubing and fittings, etc. KL Group
services various industries: dairy, food, beverage, high purity
chemicals, pharmaceutical, bio-tech, and semi conductor. KL Group
is one of the few manufacturers which carry a complete vertically
integrated technical production system, and also is a leading
company worldwide.
www.king-lai.com
This information is provided by RNS
The company news service from the London Stock Exchange
END
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