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31-10-2012

Manoir Industries and Yantai Taihai form a new strategic partnership

Leading international industrial organizations, Manoir Industries, France and Yantai Taihai, China (‘’Taihai’’), today announced signing an agreement to form a new strategic partnership comprising Manoir’s ‘’Petrochem & Nuclear’’ and ‘’Specialties’’ business units, with the Taihai French subsidiary. This new agreement will come into fruition, subject to approvals from the French Ministry of Economy and Finance.

Manoir’s two business units have 1.700 employees and operate eight industrial plants five of which are located in France with a turnover of €220m this year.

As an organization, Manoir is delighted with the new strategic alignment, together with the Manoir social committees who expressed a positive opinion, which it views as a long-term opportunity to streamline, optimize and develop the business.

Taihai intends to significantly invest in each of the individual French production plants, with a total of €60m investment program from 2013 to 2016. This will double the organization’s R&D strength and create between 30 to 40 new jobs in the French market.


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