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Zhongwang Acquires German Alunna Firm-More PPE Products
Sep 14, 2017

Hong Kong-listed China Zhongwang Holding announced the acquisition of Germany's Aluminiumwerk Unna AG (Alunna) on Wednesday, as its latest effort to grab a share of the global market.

Alunna, a well-established aluminium extrusion maker based in Unna, Germany, provides high-end extrusion products, mainly seamless tubes, to such world-leading manufacturers as Airbus, Boeing, Bombardier, Mercedes-Benz and BMW.

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In recent years, Liaoning-based Zhongwang has been increasing its presence in foreign markets, especially Europe, and has set up sales offices in Germany to support overseas sales business.

Zhongwang's net profit dropped 8 percent year-on-year to 1.26 billion yuan ($200 million) in the first half, and its revenue fell 4.6 percent, according to a report filed with the Hong Kong Stock Exchange.

More and more PPE products are used during construction, especailly hard caps, leather working gloves, and safety belt.

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