Hanghzhou Jinjiang Group employs 20,000 people in aluminum, chemicals and energy in China, Indonesia, Vietnam and India. For its first establishment in Europe, it takes over Sabart Aero Tech in receivership for more than 18 months.
(interview with Yun Xu, Vice President of the Hangzhou Jinjiang Group by La Dépèche)
Why did your group find it interesting to take over Sabart Aéro Tech ?
Our group is the number 3 aluminum in China. Our strategy is to achieve vertical integration, that is to say to have in the company all the stages: extraction, production of pure aluminum, the alloy that is made in Sabart, forging, forging and sales to the customer… Until then we had no alloy, it was the last step we missed.
What do you think you can bring to this company that was in trouble ?
Jinjiang is going to help Sabart grow. We have the financial space to invest in machinery, in buildings. We have an investment plan of 5 million euros in 3 years. (…)
What do you think about the fear that you will recover the know-how to repatriate them to China ?
That will not be the case. We are not here to colonize but to find a platform to share the added value we will create together. (…) First, because customers are attached to Sabart Aéro Tech de Tarascon, to its address, to its know-how. If I moved, I would lose the company’s qualifications. Then, what is precious at Sabart Aero Tech, the people who make up the company, the know-how that has been built for many years. Even if I wanted to, I couldn’t move a whole team. The third reason is that we are interested in the Ariège region, because it has the culture of aluminum, the culture of aeronautics and the culture of aerospace. Jinjiang is embracing the aerospace industry. Buying a high-end company like Sabart will help us establish our image in the aerospace industry. (…)read the full interview on the Dépèche website
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France3 Régions 18 juillet 2017