21 November 2016
Outline of the GMM Group
Member companies
and three other companies
Scope of business
Manufacturing and sale of non-stick coating chemicals
applicable to consumer goods including
cookware and home electrical appliances
Establishment
September 2007 (GMM Development Limited)
Head office
Hong Kong, China
Representatives
Mr. Ravin Gandhi, CEO
Mr. Raymond Chung, Co-founder & General Manager
Production bases
Zhuhai, China; Ahmadabad, India
DETAILS
Showa Denko K.K. announces that it has decided
to acquire all shares of the GMM Group (GMM),
a specialty non-stick coating chemicals
manufacturing company headquartered
in Hong Kong, China, and concluded
a stock purchase and sale agreement with GMM.
Non-stick coating chemicals are materials
to be coated on consumer goods including
cookware, bakeware, and
a variety of home electrical appliances, and
on industrial goods including automotive parts
and other industrial equipment, in order to
prevent burning on, fouling, and soiling.
The global market for non-stick coating chemicals
is put at about ¥120 billion a year
(SDK’s estimate for 2016).
In line with its ongoing medium-term business plan
“Project 2020+”
which started at the beginning of 2016,
SDK aims to reform its own business structure
to have more stable revenue streams,
through creation of individualized businesses
and increase in the ratio of its overseas sales.
SDK’s acquisition of all shares of GMM of this time
is a part of its strategic actions
aiming to establish new individualized businesses
through extension of the Showa Denko Group’s
value chain into downstream markets
and the sphere of its technologies, which form
the foundation of the Group’s business activities.
SDK very highly appreciates the capabilities of
* Mr. Ravin Gandhi, CEO of GMM,
* Mr. Raymond Chung,
Co-founder & General Manager of GMM,
* and all employees who work for GMM.
Together with all executives and employees of GMM,
SDK will aim to gain the position
of the leading company
in the non-stick coatings industry.
For further information, contact SDK:
Public Relations Office
(Phone: 81-3-5470-3235)
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