Forbo buys Chinese adhesives firm Victa Technology

10 January 2006 09:17  [Source: ICIS news]

LONDON (ICIS news)--Swiss floor coverings, adhesives and beltings producer Forbo said on Tuesday it has bought the Chinese adhesives business Victa Technology Holdings Limited.

Victa produces and distributes adhesives for the converting, packaging and woodworking industries and has production facilities in Guangzhou and Shanghai.

Founded in 1996, Victa recorded sales of about SF17m (around $13m/Euro11m) in 2004. Forbo said the acquisition provides it with an industrial platform to strengthen the group’s presence with adhesives in the greater Chinese market.

Neither Forbo nor Victa would disclose financial terms of the deal.

Forbo is already represented in China with a belting production plant in Shenyang in the north of the country. It also has a sales organisation for floor coverings and adhesives in Shanghai. With the acquisition of Victa, the number of Forbo employees in China will rise to over 350.

By: Neil Sinclair
+44 20 8652 3214

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