|
| Monday, 23 September 2019, 08:00 HKT/SGT | |
| |  | |
Source: Woodbridge | |
|
|
|
TROY, MI, Sept 23, 2019 - (ACN Newswire) - Woodbridge, a global systems solution provider of fully-integrated foam products, announces it has entered into a formal agreement to acquire all the shares in its joint venture, Woodbridge GSK High Polymer Technology Co., Ltd. (WGSK), from its partner GSK Corporation. The transaction will enable Woodbridge to enhance its growth opportunities with its customers located in China.
Upon regulatory approval, GSK's shares will be transferred to Woodbridge. The acquisition includes molded foam manufacturing operations in China: Wuhan (WGSK), Guangzhou (Guangzhou Woodbridge GSK High Polymer Technology Co., Ltd.) and Shanghai (Shanghai Woodbridge GSK Auto Parts Co., Ltd.).
"Woodbridge has been the management partner and technology provider of these three sites for 14 years," said Woodbridge president and CEO Charles Daly. "These facilities will allow our technical expertise, operational excellence and proven track record to continue to be a powerful platform to accelerate growth within the region."
According to Greg Yan, Woodbridge general manager, China, "On behalf of the entire team, I would like to thank GSK for their partnership and wish them continued success. Today marks an exciting chapter for us and reflects the collective efforts of our entire team and we look forward to our future in China."
Following the completion of the sale, Woodbridge will continue to supply molded foam to GSK's seat assembly operations.
About Woodbridge
Woodbridge is a privately-owned company offering innovative material technologies for applications in automotive, commercial, recreational, packaging, healthcare and building products. In addition to its manufacturing operations, Woodbridge offers a full complement of services including: chemical research and development, product and process engineering, tooling, technical support and accredited laboratory testing. Woodbridge operates more than 60 facilities across 10 countries-employing over 7,500 teammates and serving more than 600 customers worldwide. To learn more, visit woodbridgegroup.com.
Media Contacts:
Eric Turmel, Marketing Manager
(248) 280-6322
eric_turmel@woodbridgegroup.com
Greg Yan, General Manager, China
011-86-21-3173-5912, ext. 6522
greg_yan@woodbridgegroup.com
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/48006
Topic: Press release summary
Source: Woodbridge
Sectors: Chemicals, Spec.Chem, Funds & Equities, PE, VC & Alternatives
https://www.acnnewswire.com
From the Asia Corporate News Network
Copyright © 2026 ACN Newswire. All rights reserved. A division of Asia Corporate News Network.
|
|
|
|
|
|
|
| |
Latest Press Releases
CITIC Telecom CPC Wins Two Awards, Celebrating 'Innovation Never Stops' for 25 Years, recognizing Cybersecurity & Innovation Excellence
Feb 9, 2026 13:28 HKT/SGT
|
|
|
JCB Announces Collaboration with Resorts World Sentosa in Singapore
Monday, February 9, 2026 1:00:00 PM
|
|
|
Anime Tokyo Station: "That Time I Got Reincarnated as a Slime" Special Exhibition, February 21 to May 24, 2026
Monday, February 9, 2026 10:00:00 AM
|
|
|
playX Secures Industry-Leading Player Protection Through Landmark Insurance Partnership with Great American Insurance Group 
Feb 8, 2026 23:30 HKT/SGT
|
|
|
Mr Liu Xiaojun, on behalf of Fufeng Group, has fully completed the acquisition of Viva World Trade, Inc.
Feb 7, 2026 05:45 HKT/SGT
|
|
|
GIC Invests US$100M in Ascletis Pharma (1672. HK): Anchoring Long-Term Capital in China's Core Innovative Drug Assets
Feb 6, 2026 17:45 HKT/SGT
|
|
|
GIC Private Limited initiated a stake in Ascletis Pharma (01672) by 64,128,000 shares at a price of HKD 12.18 per share
Feb 6, 2026 17:01 HKT/SGT
|
|
|
COSMOPlat Introduces Full-Stack AI to Hong Kong for Trillion-Dollar Industrial Digitalization
Feb 6, 2026 16:34 HKT/SGT
|
|
|
Everest Medicines Announces China NMPA Approval of VELSIPITY(R) for Adults with Moderately to Severely Active Ulcerative Colitis
Feb 6, 2026 14:17 HKT/SGT
|
|
|
Spritzer Celebrates Continued Excellence with Dual Recognition at Putra Brand Awards 2025 and Superior Taste Award 2025
Feb 6, 2026 13:13 HKT/SGT
|
|
|
|
|
More Press release >> |
|
|
|
