LWB Steinl acquires full ownership of China JV with REP

Corbas, France – French rubber moulding machinery specialist REP has sold its shares in United Rubber & Plastic Machinery (URP) to LWB Steinl, its partner in the Chinese JV.

Altdorf, Germany-based LWB and REP entered a strategic “Asian alliance” for injection moulding machinery in 2014 to support the region's growing rubber moulding sector.

URP was formed under the alliance to provide European machinery to the local Chinese market and increase the competitiveness of both companies.

In a 28 Jan statement, REP said its exit from the JV was part of a “strategy reorientation,” adding that it would continue to work with URP as “sales and service agent for China.”

Furthermore, Corbas-based REP said it would intensify two decades of partnership and collaboration in China with machinery maker TungYu.

TungYu specialises in the production of machinery for polymer injection moulding and vulcanisation processes, as well as related auxiliary equipment.

LWB, will meanwhile, “strengthen its global machinery profile”, said REP without providing further details.

For its part, LWB issued a brief statement confirming the details announced by REP.