The Bossard Group has bolstered is its market position in China with the acquisition of Linquan Precision Co. Ltd., Suzhou.
Bossard’s currently has 12 sites in the Chinese market, numbering 280 employees. According to Bossard, the acquisition complements the existing product range with fastening solutions for demanding industries.
Linquan Precision generates annual sales of around CHF 8 million with 28 employees, largely in the electronics, tele and data communication, automotive and medical equipment industries, specialising in ultra-thin and ultra-light sheet metal fastenings.
The group said it was targeting demanding industries and increasingly high-quality engineered and branded products. Various acquisitions over the last few years have enabled the company to implement this strategy.
With this latest acquisition, Bossard not only consolidates its market position in one of the world’s most important economy but also strengthens its longstanding business relationship with self-clinching fastener specialist PennEngineering (PEM), it added.
The purchase price is to be kept under wraps.