Chinese Grandland Group will acquire Italian subsidiary Permasteelisa of Toyko-based LIXIL Group to for 467 million euros, the two sides jointly announced on August 21.
With more than 40 years of successful experience in global operations, Permasteelisa is a leader in high-end custom curtain wall market, having annual business revenue of 1.5 billion euros. It has more than 50 companies and 10 plants in more than 30 countries on four continents.
Permasteelisa boasts business records that have grabbed global attention. It has a complete industrial layout in countries along the Belt and Road. It was involved in the construction of a series of world-famous landmarks, such as Sydney Opera House, Apple spaceship headquarters building Campus 2, International Finance Centre Hong Kong (Phase II) and Shanghai World Financial Center.
In the meanwhile, Grandland is a general high-tech enterprise that focuses on developing decoration related operations, with involvement in equity investment and financial services. It is a large comprehensive high-tech enterprise committed to effectively improving living environment. It has four business sectors, which are Grandland Group, Grandland Property, Grandland Investment and Grandland Capital, as well as six national high-tech enterprises, with total assets of nearly 30 billion yuan.
Grandland Group (002482.SZ), a listed subsidiary of Grandland, has been engaged in decoration and furnishing related business for more than 20 years, covering fields such as integrated decoration, smart home, custom decoration, Internet home decoration, engineering finance and research. It has become one of China’s most influential architectural decoration enterprises.
Grandland has been building its overseas marketing network. It has actively took part in the national strategy of “going global” and successively opened regional markets in the Middle East, Central Asia, Southeast Asia, Africa and Russia. In July, with its advantages in management, technology, design and services, Grandland won the bid for the Belt and Road flagship project, Moscow China Trade Center.
Grandland and Permasteelisa will complement each other in R&D, global distribution, brand influence and industry chain. As a global high-end market leader, Permasteelisa will bring Grandland its unique competitive edge in the curtain wall market. The synergy effects and huge market potential created by the two sides are highly anticipated by the whole industry.
Asian countries and other countries along the Belt and Road are expected to be the main battlefields and drivers for global development of curtain wall products and applications. Data show that in China alone, 85 million square meters of curtain walls are installed annually, roughly accounting for 80 percent of all curtain walls installed across the world. The market is expected to grow by around 20 percent annually.
According to Permasteelisa CEO Riccardo Mollo, Grandland and Permasteelisa are highly complementary to each other in terms of their business form and market layout.
“While Grandland is rooted in China and offers ‘one-stop services’ along the Belt and Road, Permasteelisa is a global leader in curtain wall products with a nearly 30 percent share in Europe and North America. Following the acquisition, the two sides will give full play to their synergistic effects and conduct multi-dimensional integration in fields such as capital, technology, R&D, design and talents. They will constantly explore the huge market potential of the countries along the Belt and Road, enhance market penetration and increase the annual output value to some 30 billion yuan within three to five years,” he said.
With more than 40 years of successful experience in global operations, Permasteelisa is a leader in high-end custom curtain wall market, having annual business revenue of 1.5 billion euros. It has more than 50 companies and 10 plants in more than 30 countries on four continents.
Permasteelisa boasts business records that have grabbed global attention. It has a complete industrial layout in countries along the Belt and Road. It was involved in the construction of a series of world-famous landmarks, such as Sydney Opera House, Apple spaceship headquarters building Campus 2, International Finance Centre Hong Kong (Phase II) and Shanghai World Financial Center.
In the meanwhile, Grandland is a general high-tech enterprise that focuses on developing decoration related operations, with involvement in equity investment and financial services. It is a large comprehensive high-tech enterprise committed to effectively improving living environment. It has four business sectors, which are Grandland Group, Grandland Property, Grandland Investment and Grandland Capital, as well as six national high-tech enterprises, with total assets of nearly 30 billion yuan.
Grandland Group (002482.SZ), a listed subsidiary of Grandland, has been engaged in decoration and furnishing related business for more than 20 years, covering fields such as integrated decoration, smart home, custom decoration, Internet home decoration, engineering finance and research. It has become one of China’s most influential architectural decoration enterprises.
Grandland has been building its overseas marketing network. It has actively took part in the national strategy of “going global” and successively opened regional markets in the Middle East, Central Asia, Southeast Asia, Africa and Russia. In July, with its advantages in management, technology, design and services, Grandland won the bid for the Belt and Road flagship project, Moscow China Trade Center.
Grandland and Permasteelisa will complement each other in R&D, global distribution, brand influence and industry chain. As a global high-end market leader, Permasteelisa will bring Grandland its unique competitive edge in the curtain wall market. The synergy effects and huge market potential created by the two sides are highly anticipated by the whole industry.
Asian countries and other countries along the Belt and Road are expected to be the main battlefields and drivers for global development of curtain wall products and applications. Data show that in China alone, 85 million square meters of curtain walls are installed annually, roughly accounting for 80 percent of all curtain walls installed across the world. The market is expected to grow by around 20 percent annually.
According to Permasteelisa CEO Riccardo Mollo, Grandland and Permasteelisa are highly complementary to each other in terms of their business form and market layout.
“While Grandland is rooted in China and offers ‘one-stop services’ along the Belt and Road, Permasteelisa is a global leader in curtain wall products with a nearly 30 percent share in Europe and North America. Following the acquisition, the two sides will give full play to their synergistic effects and conduct multi-dimensional integration in fields such as capital, technology, R&D, design and talents. They will constantly explore the huge market potential of the countries along the Belt and Road, enhance market penetration and increase the annual output value to some 30 billion yuan within three to five years,” he said.
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