FRANKLIN, MASS. (Feb. 2, 4:10 p.m. ET) — After more than two decades of organic growth in the China market, Dynisco LLC today announced the completion of the purchase of the assets of Shanghai Hao-Ying Measurement & Control Technology Co. Ltd.
Dynisco officials say the deal has the firm poised to expand an already strong position in the booming market.
In an exclusive telephone interview with Plastics News, Dynisco Plastics Segment Vice President Matthew Carrara said the strategic move puts in place an established business platform and opens up opportunities with domestic Chinese customers. He expects to see double-digit growth in the region and estimates that China will soon represent 35 percent of Dynisco's global sales.
The Franklin, Mass.-based leading supplier of extrusion sensors and control instrumentation will integrate Hao-Ying's staff of 55 with Dynisco's existing China operation.
The new business, known as Dynisco China, will make and sell products under the Hao-Ying brand that focuses on midrange products as well as the Dynisco brand that targets the high-end, high-value-added segment.
Dynisco China will be directed by Wu Hao and his management team. Wu founded Hao-Ying in 2006 and quickly built the company into one of the top two Chinese producers of temperature sensors, melt-pressure transducers, transmitters and gauges, and other instrumentation used in plastics extrusion and related processes.
“This acquisition builds on the strong Dynisco brand reputation with Chinese companies who need the highest levels of accuracy and reliability and with companies making extrusion equipment for export to Europe or the United States,” Carrara noted.
Dynisco already owns the majority of the market for high-end sensors and instrumentation in China. The company hopes to expand its share in the middle tier “as much as possible” with the acquisition, he added.