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COMPANY REPORT

Truking acquires 75.1% of packaging equipment supplier Romaco’s shares
Friday, 15 September, 2017, 08 : 00 AM [IST]
Changsha
The Changsha, China-based Truking Group has acquired 75.1 per cent of the shares of the Romaco Group, the leading global supplier of processing and packaging equipment to the pharmaceutical, cosmetic, food and chemical industries.

After concluding the contract of sale, Truking’s management took the opportunity to introduce themselves personally to the Romaco workforce.

The contract of sale with Deutsche Beteiligungs AG (DBAG) was inked earlier this year.

DBAG will surrender the remaining 24.9 per cent of its shares in Romaco to Truking within the next three years.

To mark the final transaction, Yue Tang, founder and chairman, Truking, and his delegation visited the Romaco production facilities in Karlsruhe, Germany, and Bologna, Italy.

In his addresses to the workforce, he stressed his great admiration for Romaco and outlined the first steps in the cooperation.

Long-term investment by Truking
More strategic acquisitions are planned as part of the drive to strengthen the Romaco portfolio.

Parallel to this, the various Romaco sites will be successively expanded and enlarged. The initial planning phase for the construction of a new plant in Bologna has already begun.

A new laboratory will open up in China to support Romaco’s research and development (R&D) activities in the area of process technology.

Tang said, “We’re ready to grow. Our aim is to take Romaco forward and increase our share of the global markets with a mixture of confidence, determination, patience and endurance.”

He founded Truking on April 28, 2000. Exactly 17 years later (on April 28, 2017), he signed the contract of sale to buy the Romaco Group. Romaco is Truking’s first European holding.

A camera team from ZDF, Germany’s public broadcaster, accompanied the Truking delegation during its inaugural visit to Romaco Pharmatechnik GmbH in Karlsruhe, while Italian TV stations Rete 7 and Nettuno TV reported on the Truking management’s address to the Romaco S r l workforce in Bologna.

Romaco management to visit China
Recently, Romaco’s entire management team travelled to Changsha, in the Chinese province of Hunan, for a one-week workshop at the Truking headquarters.

The management of the Romaco Group visited Truking together with the managing directors of the various production facilities as well as the heads of the sales and service centres.

Employee representatives from Karlsruhe, Cologne, Steinen and Bologna also made the trip, which provided valuable first impressions of the new parent company in China.

“Our experience of the Truking management so far has been thoroughly positive,” emphasised Paulo Alexandre, chief executive officer, Romaco Group.

“Despite the language barriers, communication with Truking has been extremely efficient and decision processes are very fast,” he added.

“That widens our leeway to develop new strategies, which will strengthen our position in the market,” Alexandre said.

“Now that the transaction has been brought to a successful conclusion, we are looking forward to applying the measures adopted,” he added.
 
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