Dow Jones received a payment from EQS/DGAP to publish this press release.
EQS-News / 26/10/2017 / 15:10 UTC+8
*China Zhongwang Acquires Majority Stake in SilverYachts
A Strategic Move to Jointly Expand Aluminium Applications
in the High-end Marine Sector*
_Hong Kong, Beijing, Perth, 26 October 2017_ - *China Zhongwang Holdings
Limited* ("China Zhongwang" or the "Company", together with its subsidiaries
the "Group", HKEx stock code: 01333), a world-leading fabricated aluminium
product developer and manufacturer, announced the completion of its
acquisition of a majority stake in SilverYachts, an Australia-based
all-aluminium superyacht builder. The transaction marks a strategic move for
both parties to make further inroads in expanding the application of
aluminium in the marine sector.
"We are delighted to join hands with SilverYachts to navigate the high-end
marine sector at full speed," *Mr. Lu Changqing, President and Executive
Director of China Zhongwang*, said. "SilverYachts is one of the pioneers in
building large-sized, all-aluminium superyachts. It has an international
reputation for producing visually striking, aerodynamic, high-performance,
and fuel efficient luxury superyachts, widely known as the 'sports cars of
the ocean'. Both companies share the same vision of offering best-in-class
products that exceed client expectations. The acquisition is a significant
step to advance the Company's aluminium deep-processing strategy to the
marine sector, and adds considerably to our international expansion."
One of the world's top superyacht manufacturers, SilverYachts is also the
only company in the world capable of building large scale all-aluminium
alloy superyachts of over 70 metres. The all-aluminium alloy hulls enable
the superyachts created by SilverYachts to be lighter and faster, reaching
the highest level in terms of speed and fuel efficiency in the world, and
making them the fastest conventionally powered superyachts. Consequently,
the superyachts produced by Silveryachts have garnered numerous
international awards, and their major clientele includes the royal family
members of the Gulf countries, and a prominent US technology entrepreneur.
The acquisition of SilverYachts signifies China Zongwang's direct entry into
the downstream end product manufacturing business. The transaction
complements China Zhongwang's recent acquisition of Alunna in Germany, and
is another international acquisition that helps China Zhongwang to expand
its business segments and optimise its product mix. Alunna is a key supplier
of seamless extruded tubes to major players in the international aviation
industry. While China Zhongwang has already established a strong foothold as
a leading supplier of fabricated aluminium products for the railway sector
including high speed railway, it is also heavily involved in the
manufacturing of new energy automobiles. Through the cooperation with
SilverYachts, China Zhongwang will further broaden its product applications
in the marine segment, and achieve comprehensive and multi-level coverage in
the lightweight transportation domain which includes aviation, railway,
automobiles, and navigation. At the same time, the partnership will give
SilverYachts enhanced resources and direct access to China Zhongwang's
extensive R&D in the production and applications of fabricated aluminium
products. Its presence in Asia will also be conducive to SilverYachts'
expansion in the region.
"The partnership with China Zhongwang marks a new page for SilverYachts,"
commented *Mr. Guido Alexander Krass, founder of SilverYachts. "*Dedicated
to building all-aluminium alloy superyachts, we are excited to have China
Zhongwang on board to provide impeccable support for innovative aluminium
applications in the ocean. China Zhongwang's strong backing will enable us
to accelerate our pace of expansion and broaden our market reach. Going
forward, SilverYachts has plans to expand its team in Australia as well as
in China."
*Mr. Espen ?ino, internationally renowned naval architect and yacht
designer*, said, "Our _Silver_ Series yachts are groundbreaking in design
and building philosophy, in the way the volumes are distributed
longitudinally rather than vertically, thus permitting a high length to beam
ratio, which is more efficient in terms of performance. The _Silver_ Series
of yachts reflect the basic core values of sound engineering principles
whereby simplicity prevails over complexity and finds its inspiration in the
slender and efficient monohulls developed before lightweight materials and
high speed high power diesel engines were available. Applying the same basic
naval architectural concept in combination with today's state of the art
lightweight aluminium construction and modern engine technologies is the
brainchild of Guido Alexander Krass and myself. We look forward to designing
the next generation of the _Silver_ series with China Zhongwang, for both
the global and the Asian market."
SilverYachts is based in Perth, Australia. Its founder Guido Alexander Krass
and yacht designer Espen ?ino will continue to lead SilverYachts'
development after the acquisition, and its day-to-day operations will remain
unchanged. The Australia-based shipyard will remain a frontrunner of
technology, manufacturing new series of larger vessels such as the 100 meter
_Silver Global_. One of the existing strategies of SilverYachts is to
establish an additional shipyard in China to build superyachts or commercial
vessels customised for the growing Asian market with the support of China
Zhongwang.
_- End - _
*About China Zhongwang Holdings Limited*
China Zhongwang is the second largest industrial aluminium extrusion
products developer and manufacturer in the world and the largest in Asia. It
has, over the years, been focusing on the light-weight development of
transportation, machinery and equipment and electric power engineering
sectors through the provision of quality industrial aluminium extrusion
products. It now has over 90 internationally advanced aluminium extrusion
production lines, including 21 production lines of large-scale aluminium
extrusion presses of 75MN or above. The Group's unique core competitiveness
in the industry lies in its comprehensive strength of four-in-one model,
i.e. the integration of smelting and casting, die design, advanced equipment
and R&D capability all under one roof.
In addition, to further leverage its existing strengths in the industry, the
Group is developing the high value-added aluminium flat rolling project.
Upon completion, the project will become the world's largest top-notch
aluminium flat rolling production base with state-of-the-art equipment. This
new business venture will not only enable the Group to further capitalize on
its leading edge in aluminium alloy smelting and casting and product R&D,
but also achieve synergistic development with its existing aluminium
extrusion and deep processing businesses by taking full advantage of shared
resources.
For further information on the Group, please visit www.zhongwang.com [1].
*About SilverYachts *
Based in Perth, Western Australia and founded by Mr. Guido Alexander Krass,
SilverYachts is one of the world's leading superyacht builders and a member
of SYBAss (Superyacht Builders Association). SilverYachts works hand-in-hand
with world renowned naval architect and designer Mr. Espen ?ino, who is an
expert in combining state-of-the-art design with performance and fuel
efficiency. Their high specification superyachts have received worldwide
recognition, winning numerous awards including Boat International World
Superyacht Award Winner Displacement Motoryacht 500GT, Asia Pacific Boating
Best Worldwide Custom-Built Yacht Award, and Monaco Yacht Show Finest Yacht
Award.
An impressive team of over 150 veteran professionals works in unison on
yacht projects. SilverYachts' state-of-the-art shipyard facilities cover
over 6,000 sqm and are home to two building halls, a fit-out hall, an
interiors division, design offices and workshop spaces.
For further information on the SilverYachts, please visit
http://silveryachts.com/en [2].
*About Mr. Guido Alexander Krass *
Mr. Guido Alexander Krass is founder and chairman of Pari Group, a
diversified non-consolidated group of independent companies active in
greentech, renewables, healthcare and technology, and chairman of the
supervisory board of Centrotec Sustainable AG, a listed company at the
Frankfurt stock-exchange, specialising in building efficiency, heating
air-conditioning and ventilation.
*About Mr. Espen ?ino *
Mr. Espen ?ino, a graduate from University of Strathclyde in Glasgow,
Scotland, is the designer and naval architect behind some of the most
recognisable superyachts on the planet, and the creative mastermind of the
_Silver_ Series of SilverYachts. Mr. ?ino is founder and owner of Espen ?ino
International which specialises in the design and naval architecture of
yachts, from concept to development through to completion. Espen ?ino
International is based in Monaco, the capital of the yachting world.
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Document title: ZW Acquires SilverYachts_Eng_FINAL
26/10/2017 Dissemination of a Financial Press Release, transmitted by EQS
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(END) Dow Jones Newswires
October 26, 2017 03:11 ET (07:11 GMT)
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