Olympus invests in Chinese aluminium producer

Private equity firm Olympus Capital will invest $100 million for an undisclosed minority stake in Zhongwang International Group.

Zhongwang started business in 1993 and has grown to become the third largest aluminium extrusion profile manufacturer in the world.

Olympus says its plans to add value to Zhongwang including helping ¡°the company to explore new markets, both domestic and international, as well as vertical integration opportunities and to continue to improve corporate governance as the company makes a transition from a private enterprise to one with international investors¡±.

Olympus Capital is a middle-market private equity firm with an Asia focus and offices in Hong Kong, Shanghai, Tokyo, New Delhi, Seoul and New York.

Olympus¡¯s investment comes in the same week that CLSA Capital Partners invested $30 million in convertible bonds issued by Taiwan¡¯s Fulltech Fiber Glass Corporation. Fulltech is a fibreglass yarn manufacturer serving both electronic and industrial customers.

The deals confirm that for smaller, non-control private equity deals, Asia and particularly Greater China, continues to be a vibrant market.

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