Vetrerie Riunite Group, a company based in Verona, world leader in the production of glass portholes for the household appliances market, has reached an agreement for the acquisition of a majority stake in the share capital of Suizhong, Ming Hui Industrial Technology, leading Chinese manufacturer of glass portholes. The closing of the transaction is expected within the year.
VR Group has been controlled by a company affiliated with the private equity fund Sun European Partners since December 2019. The signing of the agreement with Minghui will allow VR Group to strengthen and expand its presence in China to benefit from both the rapid growth of the domestic market, and opportunities in terms of exports. In addition, through a strengthening of its presence in China,
VR Group will further improve the quality of the service offered to its Chinese customers, as well as to the Chinese plants of its international customers. Simultaneously with the signing of this acquisition, VR Group is expanding its production capacity in Italy, reaffirming its focus on the market of glass portholes for washing machines.
About:
Vetrerie Riunite Group is a global leader in the market for glass fronted door glasses for the home appliance market and works with over 3,000 clients all over the world. Thanks to our entrepreneurial spirit, ability to innovate and dynamism we have over 100 years of experience in this sector.
Our story started in 1905, when our founders who worked in the historically important glass making tradition of Altare (SV) and Colle Val d’Elsa (SI), started working in Turin manufacturing lighting for the residential sector and industrial components (Isolators). The automotive sector in the seventies was in a boom period andVetrerie Riunite Group started producing glass for headlights. To manage the increasing demand for its productsVetrerie Riunite Group established its new factory and head office at Colognola ai Colli in the province of Verona. This was how Vetrerie Riunite spa was founded. During this time, production and development of door glasses for washing and dish washing machines was started and this became the principal business for the group.
In 1981 Vetrerie Riunite Group purchased Borromini srl a company with many years’ experience in the production and development of moulds for the automotive lighting sector. In the middle of the eighty’s Vetrerie Riunite Group created Novaref spa to develop glass rollers for the ceramics and construction business.
TheVetrerie Riunite Group has moved forward into the new millennium and continues its growth in both production, quality and exploiting new techniques. The latest investment for the group in 2017 was the building of a new oven Centauro, which will enable production levels to be increased by 25% to reach 300 tonnes of glass per day.
14.07.2021, Vetrerie Riunite Group
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