IPCO extends its footprint in China with the acquisition of Nantong Langwei New Materials, ‘Long Goal’. Following the acquisition deal signed on October 13, 2023, IPCO increased its local steel belt production capabilities for the Chinese market. The move means IPCO benefits from lower cost levels and shorter lead times while also reducing CO2 emissions and risks caused by transportation to and from Sweden.

All belts will be sold under the IPCO brand in China, utilizing IPCO China’s current sales force, now strengthened by Long Goal sales representatives. Former Long Goal employees will be fully integrated into IPCO’s China organization during Q4.

Robert Hermans, IPCO CEO said, “We are delighted to welcome the Long Goal team to IPCO. Local Chinese supply will strengthen IPCO’s competitiveness for the vital Chinese belt market, and will also eliminate transportation needs around the globe. This is good news for our customers, good news for our business and good news for the planet. Moreover, this is a perfect fit with our strategic priority ‘In China for China’.”

Pictured: The acquisition team (ltr): Robert Schortz (Vice President Strategy Execution and M&A IPCO), Cindy Guo (external Legal Counsel with Zhong Lun Law Firm), Shaobai Li (Vice President APAC Sales & Service IPCO), Roy Zhang (MD Long Goal/Longwin), Lefan Gong (External Legal Counsel with Zhong Lun Law Firm)

Photo: IPCO