Kangde Composites and KDX Acquired SGL Kümpers
On May 18, Kangde Composites Co., Ltd. (Kangde Composites) and Kümpers GmbH, a German company, signed a share purchase agreement (SPA) in Munich, Bavaria, Germany to acquire its subsidiary SGL Kümpers GmbH & Co. KG (SGL Kümpers). After the SPA was signed, the two sides will go through approval procedures and complete the transaction in the third quarter of 2018.
SGL Kümpers is a well-known composite fabric manufacturer in Europe and its products, including glass fiber, carbon fiber woven fabric, NCF warp knitting fabric and 3D woven fabric, are widely applied to wind power and automobile industries. It is a long-term supplier of glasses fiber and carbon fiber products for automotive OEMs such as BMW and Audi, as well as renowned wind power companies including Enercorn and TPI, among others.
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