Wednesday, 18 March 2020
Grebe Holding GmbH, parent company of the Weilburger Group, has announced that Weilburger has exited the former joint venture CMW Holding Ltd. (CMW = CashewManfieldWeilburger) as of 25 February 2020, and is now active in the Chinese market as a 100% subsidiary, Weilburger China (Tianjin) Ltd.
In exchange for its shares in CMW Holding Ltd., Weilburger receives back the business based on its licensed technology, as well as other assets, and takes over from CMW Holding Ltd. the ownership of the newly erected 32,000 square meter production facility in Tianjin, near Beijing.
Weilburger is confident that this organizational and structural change has laid the foundation for continued success and a growth-oriented future in the Chinese market.
Weilburger takes over the ownership of the newly erected 32,000 square meter production facility in Tianjin from CMW Holding Ltd.Source: Weilburger Group.