Press Release:
STERIMED ANNOUNCES THE SIGNING OF AN AGREEMENT FOR THE ACQUISITION OF FUJIAN JINYU NEW MATERIAL TECHNOLOGY,
AN EMERGING LEADER AMONG CHINESE MANUFACTURERS OF HIGH-QUALITY FILMS
STERIMED, a leading manufacturer of medical sterilization packaging, today announces the signing of a definitive agreement to acquire FUJIAN JINYU NEW MATERIAL TECHNOLOGY, an emerging leader in cast co-extrusion of high-end technical films for the medical packaging markets and other industries. This acquisition will reinforce Sterimed’s GREEN SAIL expertise and leading position in high-quality medical packaging films in China.
Fujian Jinyu has developed unique expertise for films with high barrier performance, produced from a cutting-edge technology 11-layer casting machine. This technology allows to produce thinner and highly engineered films with a tight thickness control, hence producing in the most sustainable way for the environment. Jinyu’s product line for medical device packaging includes PA-PE formable barrier film and PA-PP formable heat resistant film.
This acquisition significantly reinforces Sterimed’s industrial and technological footprint in Asia: by joining forces, Jinyu and Greensail teams will be able to better serve the medical packaging and pharmaceutical industries with a complete product offering, as well as develop innovative solutions for other healthcare markets.
As part of the transaction, Mr. CHEN Kang, Managing Director of Fujian Jinyu and pioneer of formable film produced on cast extrusion line in China, will become a minority shareholder of Greensail, alongside with Greensail’s Managing Director LIN Baiwen.
Thibaut Hyvernat, President and CEO of Sterimed, said: « I am very glad to welcome Chen Kang and his team within the Sterimed Group, and to have a new fellow shareholder teaming up with all of us at Sterimed. We have been impressed by the products and technologies developed by Jinyu over the last years and I am convinced that with Lin Baiwen and his Greensail teams, this association will produce great results in the future. Under the leadership of Nicolas Paillot, Sterimed Asia now comprises 3 manufacturing plants and is better positioned than ever to take full advantage of the very high growth chinese medical packaging market »
Sterimed’s acquisition of Fujian Jinyu New Material Technology is subject to customary closing conditions and is expected to be completed in the third quarter of calendar year 2022.
About Sterimed
Sterimed develops, produces, converts and markets various types of solutions such as bacterial barrier substrates and pre-formed sterilization packaging for hospitals, medical device manufacturers and the pharmaceutical industry. Including this new acquisition, Sterimed will have 11 manufacturing sites and 23 sales offices all over the world, totaling around €260m in sales and relying on 1 300 fully committed associates.
About Fujian Jinyu New Material Technology
Fujian Jinyu New Material Technology Co. Ltd is a Chinese flexible packaging manufacturer offering a great variety of products, with special emphasis on co-extrusion thermoforming films. Its production site is located in Luoyang City, Henan Province of China. Its assets include a cutting-edge 11-layer cast extrusion machine as well as associated finishing equipment. In 2021, Jinyu totaled roughly €15m in sales including 40% export, and 70 employees.
Press Contact :
Sterimed – Communication Dpt
Sophie MANIGLIER Tel : +(33) 1 77 37 35 28
communication@sterimed.fr