Press release
Wieland-Werke AG
Graf-Arco-Str. 36
89079 Ulm
Joint Venture:
Wieland buys equity interest in Wolverine Tube Shanghai
As from 14 March 2008, the Wieland Group establishes a joint venture with
Wolverine Tube Shanghai Co., Ltd., a Shanghai-based manufacturer of
enhanced tubes for air conditioning and refrigeration. Wieland purchases a 30%
equity interest in Wolverine Tube Shanghai with an option to acquire an
additional 20% share.
Based on this partnership, Wieland and Wolverine will manufacture and distribute
enhanced tubes as a primary component of large air conditioning and
refrigeration systems. From Shanghai, they will exclusively supply the AsiaPacific region, including all countries in Asia, Australia and Oceania.
Asian countries, in particular China, are experiencing a strong increase in
demand for products for air conditioning and refrigeration applications. The
cooperation with Wolverine in China enables Wieland to extend its product
offering and range of services in the Asia-Pacific region. Wieland is already one
of the leading European and North American suppliers of air conditioning and
refrigeration tubes.
Wolverine Tube Shanghai Co., Ltd.
Wolverine Tube Shanghai Co., Ltd., a subsidiary of North American
Wolverine Tube, Inc. with approx. 220 employees, achieved a turnover of 60
million US $ in 2007.
Wolverine Tube, Inc.
The Delaware-based company, established in 1916, is one of the world’s leading
manufacturers of copper and copper alloy tubes. As of 31 December 2007,
Wolverine Tube, Inc. had a total of 2,115 employees worldwide. Further
information is available at www.wlv.com.
The Wieland Group
The Wieland Group with headquarters in Ulm, Germany, is one of the world’s
leading manufacturers of semi-finished and special products in copper and
copper alloys. Semi-finished products are strip, sheet, tube, rod, wire and
sections. Special products include slide bearings, finned tubes and heat
exchangers. The Wieland Group has more than 30 production sites, slitting
centres and trading companies in Europe, China, Singapore, South Africa and
the United States. Wieland-Werke AG operates four plants in Ulm, VelbertLangenberg, Villingen-Schwenningen and Vöhringen. The global workforce of the
Wieland Group is approx. 6,500 strong of which 4,000 are employed in Germany.
Ulm, 20 March 2008