Emhart Glass has announced that it is entering into a joint venture with Shandong Sanjin Glass Machinery Co (‘Sanjin’), located in China’s Shandong Province.
Sanjin is reported to be the market leader for container glass machinery and equipment in China. While it focuses on low-cost glass forming machines, forehearths, annealing lehrs and palletisers for the domestic market, Emhart Glass imports more advanced glass forming and inspection machines.
Under the joint venture deal, which is subject to approval by the Chinese authorities, Emhart Glass will acquire a 52% equity interest in Sanjin and subscribe to a capital increase, taking its final holding to 63%.
The project will operate independently of the Emhart Glass group, under Sanjin’s brand name and management. Emhart Glass will provide additional management and technology expertise.
“I’m delighted that we have finalised this joint venture deal, which will be hugely beneficial for both parties,” said Martin Jetter, President of Emhart Glass.