elb, wholly-owned subsidiary of cel investee lapmaster, entered into the strategic cooperation agreement with avic international aero-development corporation
china everbright limited (“cel”, stock code: 165.hk) announced that elb-schliff werkzeugmaschinen gmbh (“elb”), a wholly-owned subsidiary of cel investee lapmaster group holdings llc (“lapmaster”), entered into a strategic cooperation agreement with avic international aero-development corporation during the 15th china international machine tool show held on 18 april 2017, becoming one of aviation industry corporation of china’s (“avic”) first 16 strategic suppliers of aviation manufacturing equipment around the world. as lapmaster’s controlling shareholder, cel was invited to attend the contract signing ceremony, where it was represented by cel’s m&a team.
founded in 1948 and headquartered in chicago, lapmaster is a world-leading manufacturer of high-end surface treatment and precise polishing equipment. since acquiring a controlling stake in lapmaster in november 2015, cel has helped the company complete a series of bolt-on acquisitions, including elb, with the objective of building lapmaster into the world’s number one provider of high-precision surface polishing equipment and solutions through organic growth and m&as.
the frankfurt-headquartered elb has more than 60 years of history producing advanced surface and profile grinding machines. it has earned a worldwide reputation in the field of aircraft engine blade processing for its creep-feed grinding machines, which feature sophisticated technology, excellent configuration and precision craftsmanship. elb is the manufacturer of choice for famous brands such as ge, pratt & whitney and rolls-royce. elb was also the first european company of its kind to enter the chinese market after the founding of the people's republic of china and has made long-term contributions to the development of china’s aircraft engine technology through a decades-long cooperation with avic.
the acquisition of elb has significantly broadened lapmaster’s presence in the aerospace, national defence and military, manufacturing and other terminal sectors. aerospace is perceived as one of the grinding machine industry’s strongest future drivers of growth.
cel’s m&a team has been actively leveraging its own resources and working with lapmaster to identify outstanding strategic partners in the domestic market with the aims of expanding lapmaster’s sales network and pursuing acquisition opportunities. the strategy is expected to help lapmaster achieve fast growth while giving cel the opportunity to gain replicable experience in active post-investment management.
cel plans to continue seeking overseas investment opportunities, particularly in the developed markets of europe and the us. cel employs active post-investment management to introduce investees’ quality products and advanced technologies to china and help meet the country’s strong demand for industry upgrades, realising financial returns while promoting industrial transformation.
elb, a famous german manufacturer of grinding machines, is situated in aschaffenburg and babenhausen, with over 60 years of history in manufacturing advanced surface and profile grinding machines.
founded in 1948 and headquartered in chicago, lapmaster is a world-leading manufacturer of high-end surface treatment and precise polishing equipment. since acquiring a controlling stake in lapmaster in november 2015, cel has helped the company complete a series of bolt-on acquisitions, including elb, with the objective of building lapmaster into the world’s number one provider of high-precision surface polishing equipment and solutions through organic growth and m&as.
the frankfurt-headquartered elb has more than 60 years of history producing advanced surface and profile grinding machines. it has earned a worldwide reputation in the field of aircraft engine blade processing for its creep-feed grinding machines, which feature sophisticated technology, excellent configuration and precision craftsmanship. elb is the manufacturer of choice for famous brands such as ge, pratt & whitney and rolls-royce. elb was also the first european company of its kind to enter the chinese market after the founding of the people's republic of china and has made long-term contributions to the development of china’s aircraft engine technology through a decades-long cooperation with avic.
the acquisition of elb has significantly broadened lapmaster’s presence in the aerospace, national defence and military, manufacturing and other terminal sectors. aerospace is perceived as one of the grinding machine industry’s strongest future drivers of growth.
cel’s m&a team has been actively leveraging its own resources and working with lapmaster to identify outstanding strategic partners in the domestic market with the aims of expanding lapmaster’s sales network and pursuing acquisition opportunities. the strategy is expected to help lapmaster achieve fast growth while giving cel the opportunity to gain replicable experience in active post-investment management.
cel plans to continue seeking overseas investment opportunities, particularly in the developed markets of europe and the us. cel employs active post-investment management to introduce investees’ quality products and advanced technologies to china and help meet the country’s strong demand for industry upgrades, realising financial returns while promoting industrial transformation.
elb, a famous german manufacturer of grinding machines, is situated in aschaffenburg and babenhausen, with over 60 years of history in manufacturing advanced surface and profile grinding machines.