Baker McKenzie advised Datwyler in the acquisition of Yantai Xinhui Packing Co. Ltd. By taking over the Chinese company, Datwyler will gain direct access to the rapidly growing healthcare market in China and fill another important strategic gap in their Healthcare Solutions business area by having its own production plants in all relevant markets. Closing of the transaction is subject to the anticipated fulfilment of the customary closing conditions during the first quarter of 2022.
The family-owned company Yantai Xinhui Packing was founded in 2003. In 2017, the company invested in building a new production plant in Shandong province in northeastern China. Yantai Xinhui Packing has automated production facilities for elastomer components for the healthcare market, its own development department and its own compounding facility. With some 170 employees, the young and modern company has annual revenue of some CHF 15 million. The current management will remain in place, thus ensuring continuity in serving the Chinese healthcare market. When integrating Yantai Xinhui Packing, Datwyler can draw on its many years of experience with its own Chinese plants for the automotive and industrial markets with some 1’500 employees in China.
An international Baker McKenzie team advised Datwyler in all legal aspects of the acquisition.
Alexander Fischer (Zurich) and Scott Silverman (Beijing) led the Baker McKenzie team which also included the following team members: Bofu An, Alexander Gong, Clive Gu, Nancy Lai, Laura Liu, Mubareke Mahemuti, Lydia Peh, Yiwei Sun, Jason Wen, Cora Wu, Terry Xu and Ting Zhang.