Japan's JS Group has acquired a 49% stake in Shanghai Meite Curtain Wall Systems, a manufacturer of aluminium curtain walls and other building material, the company said Tuesday.
The JS Group -- one of the largest consumers of aluminum in the Japanese housing sector -- invested Yen 3 billion （$37 million） in Shanghai Meite through its group company Tostem, to gain a foothold in China's growing buildings' construction sector, the company said.
Meite's plant in Shanghai has annual capacity to produce aluminum curtain wall systems covering 40,000 square meters of building floor space, and its Beijing plant has half that capacity.
Tostem will provide technological support to Shanghai Meite for high-rise building products, and in future, may import Shanghai Meite products into Japan, the Tostem spokesman said.
Tostem currently operates a plant in Dalian focused on wooden housing interiors.
豫公网安备41010502003434号