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Ferraz Shawmut, Newburyport, Mass., said it will acquire a majority shareholding in the Chinese company Zhejiang Mingrong Electrical Protection (MEP). This joint venture continues Carbone Lorraine’s rapid expansion in Asia, and it positions Ferraz Shawmut to become a platform for new product development for Asian markets, the company said.
MEP is a leading company in the fuse and fusegear market. The company is based in Zhejiang province, the cradle of the Chinese electrical industry’s development, and it posted sales of around 10 million in 2007.
“MEP is the leading, and most profitable, power fuse and fusegear company in China, offering a comprehensive range of fuses from a sophisticated and vertically integrated manufacturing facility,” said Ken Hooper, senior vice president of sales and marketing at Ferraz Shawmut. “This strategic alliance offers us an exciting new global growth dimension.”