Jushi Group, a China-based fiberglass maker, has purchased Gibson Enterprises Inc., the company's U.S. distributor based in Irwindale, Calif.
Gibson distributes fiberglass reinforcements and fabrics.
The acquisition comes after years of collaboration between Tongxiang-based Jushi and Gibson. Earlier this year, the firms developed a high-strength fiberglass called ViPro, aimed at high-strength applications like wind energy and high-pressure pipes.
Gibson is being renamed Jushi USA and will incorporate Gibson's U.S. network of distribution centers. The new company will help expand the global network of Jushi Group, which operates units in Canada, France, India, Italy, Japan, South Korea, Singapore, South Africa and Spain.
In addition to its headquarters in Tongxiang, Jushi has production bases in Jiujiang and Chengdu, and boasts more than $1.3 billion in total assets.
The U.S.-based operation will be headed by Alan Gardiner, a chief operating officer at Jushi who also serves as president of Jushi Canada.