IPCO extends its footprint in China

 Monday, October 16, 2023

IPCO extends its footprint in China by acquiring Nantong Langwei New Materials, “Long Goal”. Since, innovative new products require innovative Belt solutions.

IPCO’s years of Steel Belt manufacturing expertise reaches new heights with new innovations and collaboration.

The acquisition brings Chinese belt production and sales capabilities. This will enable them to benefit from local cost levels and shorter lead times, and avoid CO2 emissions and delays caused by transportation to and from Sweden.

IPCO CEO Robert Hermans said, “Local Chinese supply will strengthen IPCO’s competitiveness for the vital Chinese belt market, and will also eliminate transportation needs around the globe. This is good news for our customers in China, good news for our business and good news for the planet.”

The deal to acquire Long Goal closed today, (date), giving IPCO local steel belt production capabilities for the Chinese market and enhancing IPCO’s competitiveness in China. The acquisition will enable IPCO to take advantage of local cost levels and shorter lead times while also reducing CO2 emissions and risks caused by transportation to and from Sweden.

All belts will be sold under the IPCO brand in China, utilizing IPCO China’s current sales force, strengthened by Long Goal sales representatives. Former Long Goal employees will be fully integrated into IPCO’s China organization during Q4.

Robert Hermans, IPCO CEO said, “We are delighted to welcome the Long Goal team to IPCO. Local Chinese supply will strengthen IPCO’s competitiveness for the vital Chinese belt market, and will also eliminate transportation needs around the globe. This is good news for our customers, good news for our business and good news for the planet. Moreover, this is a perfect fit with our strategic priority “In China for China”.

Tags: china, Steel belt, wood, woodworking and manufacturing, woodworking and processing