KDT CHINA, PAYS 16 MILLION FOR 75% OF THE ITALIAN COMPANY MASTERWOOD
Guangzhou KDT Machinery Co. buy 75% of Masterwood, an Italian computer numerical control (CNC) woodworking machinery brand for EUR16 million (USD 20 million/RMB 124 million) through its Hong Kong unit to improve its products technology and expand its global market share.
A Sale and Purchase Agreement was signed between the wholly-owned subsidiary KDT MAC (Hong Kong) Ltd. and three individual shareholders of Masterwood SpA on February Saturday 10th, according to an announcement published by the Guangzhou-based woodworking machinery producer last Friday. In the 75.0% of stake purchased, KDT MAC will directly hold 25.5% and indirectly own 49.5%by holding 100 percent of the equity in company Muti 2 S.r.l., which piles no business but contain 49.5% of Masterwood’s shares. The transition price was determined by Masterwood’s earnings (EUR 1.6 million) in 2016, as well as its cash balance at the end of last year. KDT is a leading panel machinery manufacturer in China with rapid growth in recent years, selling equipment to over 50 countries and regions worldwide. Relying on Masterwood’s knowledge and experience, the acquisition will enhance KDT’s CNC processing technology and accelerate the upgrade of its automation. Meanwhile, the high brand awareness of Masterwood worldwide will help KDT MAC expand its international market. About KDT KDT Woodworking Machinery is a leading panel machinery manufacture serving furniture producers in China. "Built for Quality, Value for Customer" is KDT's commitment to every customer. By winning customers' trust, KDT in recent years has experienced the highest growing rate among all major equipment providers in the industry world wide. The company has four divisions, Edging, Cutting, Drilling and Automatic Line, and the products can be found in furniture producers in more than 50 countries and regions around the world. KDT has established technology collaborations with partners in Korea and has built a modern R&D and test center in China. Continuous improvement and reinforced quality control is the company's core competitive strength. The company sources thousands of high quality parts from a group of satellite factories and from renowned suppliers in Korea, Japan and some European countries. For more information contact Mr Giancarlo Muti:
MASTERWOOD Spa Via Romania 18-20 / I-47900 RIMINI, Italy / Ph. +39 0541 745211 / E-mail: email@example.com