Aptar acquires stake in China companies
CRYSTAL LAKE -- AptarGroup Inc. said it has acquired a 49% equity interest in three related BTY companies: Suzhou Hsing Kwang, Suqian Hsing Kwang and Suzhou BTY, collectively referred to as BTY.
The companies are Chinese manufacturers of high quality, decorative metal components, metal-plastic subassemblies and complete color cosmetics packaging solutions for the beauty industry.
The investment brings complementary and distinctive capabilities to Aptar, including high speed stamping and anodization, metal and plastic decoration and differentiated lipstick masstige mechanism design and manufacturing. The investment also positions Aptar to capitalize on growth potential in the Asian color cosmetics market, while further strengthening the company's ability to serve customers focused on the color cosmetics markets.
"We are committed to growing our business in Asia and to creating an even stronger local presence in this region," said Aptar President and CEO Stephan Tanda. "This strategic equity investment better positions us in the high-growth Asian color cosmetics market and we look forward to leveraging our expansive portfolio of dispensing technologies, along with our global scale, to build upon BTY's success in this market."
Financial details will be disclosed upon completion of the transaction, which is expected to close by the end of 2019. The company said the purchase will be funded with cash on hand.