Sanhua and AWECO Appliance Systems signed take over agreement.
Zhejiang Sanhua Co. Ltd. (Xinchang, China) and AWECO Appliance Systems GmbH & Co. KG (Neukirch, Germany) are pleased to announce that an agreement to acquire the business of AWECO Appliance Systems GmbH & Co. KG (Neukirch, Germany), was signed on November 19th, 2012. Sanhua will acquire the assets and the customer base of AWECO including all patents, trademarks, production know how as well as the shares of AWECOS’s operational entities in Germany, Poland, Austria, Slovakia and China. More importantly, the employees of the AWECO Group will become part of the Sanhua team and will continue to design and produce innovative products and systems for the home appliance industry.
The acquisition of the assets of AWECO Appliance Systems GmbH & Co. KG is a major benefit for both, customers, suppliers and employees of AWECO Group and Sanhua Group. The acquisition will bring AWECO Group and Sanhua to a new level, giving birth to a worldwide leader in the home appliance industry. AWECO will remain its operational independency within the Sanhua Group with its own management team.