The sons of two top officials of Haitian International Holdings Ltd. have passed the reins to their sons to run the Chinese company's German press making operation, Zhafir Plastics Machinery GmbH.
Zhafir's new managing directors are Steffen Franz, son of Helmar Franz, who was Zhafir's CEO, and Zhang Bin, the son of Haitian International CEO Zhang Jianming.
Zhafir has operations in Ebermannsdorf, Germany, and Ningbo.
Steffan Franz, in addition to his new role as a managing director, will continue as Zhafir's technical director.
Helmar Franz will remain a shareholder in the German company.