Heidelberg aims to further strengthen its position in the growth market of China and has set up a production joint venture with its long-standing partner and strategic anchor shareholder Masterwork Group Co Ltd.
Heidelberg will benefit from the closer cooperation in the value-added chain between the two companies, particularly at its production site near Shanghai. The two companies also expect the expansion of their strategic cooperation through joint parts production by the joint venture at Masterwork’s site in Tianjin to open up substantial opportunities for boosting efficiency.
“The manufacturing joint venture with Masterwork is a further milestone in the successful cooperation between the two companies and opens up additional opportunities for Heidelberg in China,” said Rainer Hundsdörfer, CEO of Heidelberg. “With a sales volume of around €300m, China is Heidelberg’s most important single market in the graphic arts industry. We have increasingly strengthened our market position by expanding our range of products at our production site near Shanghai. The increasing purchase of locally manufactured parts will significantly increase our competitiveness in this growth market.”
Production is scheduled to start at Masterwork’s new and innovative site in Tianjin at the beginning of 2021.
“The joint venture between MK and Heidelberg is an important step in the strategic development of both companies. Our common goal is to provide high-quality, cost-effective and intelligent products for the market to better meet and service customer needs,” says Li Li, President of Masterwork.
A total of around 900 Heidelberg employees work in China, around 450 of them in sales and service. Two branches in Beijing and Hong Kong and three offices in Guangzhou, Shanghai and Shenzhen ensure comprehensive customer support on site. Together with Masterwork, the manufacturer of die-cutters and hot foil embossing presses, Heidelberg also aims to significantly expand its market position in the growing packaging printing sector.
