Vetrerie Riunite Group, a company based in Verona, world leader in the production of glass portholes for the household appliances market, has reached an agreement for the acquisition of a majority stake in the share capital of Suizhong, Ming Hui Industrial Technology, leading Chinese manufacturer of glass portholes. The closing of the transaction is expected within the year. VR Group has been controlled by a company affiliated with the private equity fund Sun European Partners since December 2019. The signing of the agreement with Minghui will allow VR Group to strengthen and expand its presence in China to benefit from both the rapid growth of the domestic market, and opportunities in terms of exports. In addition, through a strengthening of its presence in China, VR Group will further improve the quality of the service offered to its Chinese customers, as well as to the Chinese plants of its international customers. Simultaneously with the signing of this acquisition, VR Group is expanding its production capacity in Italy, reaffirming its focus on the market of glass portholes for washing machines.
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