Truking tops pharm industry after acquiring Romaco
The 150 million euro ($1.14 billion yuan) acquisition was completed when Truking signed an agreement with Romaco group on April 28 in Frankfurt, Germany. The deal makes Truking a global leader in the pharmaceutical equipment industry.
Tang Yue (third from the left), president of Truking, inspects products at Duesseldorf Interpack 2017 in Germany. [Photo by Yang Yun/icswb.com]
Both parties said they hoped to complement each other with their particular advanced technologies, based on their different types of pharmaceutical preparations.
Though with massive revenues of 200 million yuan ($30 million) in 2016, Truking's customer base is mainly confined to Asia, while the 100-year-old Romaco dominates the European and North American markets, but faces an awkward situation in China with income of only 5 million Euros in 2016.
Destined to produce a win-win result through expedited market expansion, Truking firmly believed that Romaco's revenue in China will soar to at least 50 million in three to five years.
"By cooperating with China's most powerful pharmaceutical equipment enterprise, we will achieve far more in the Chinese market," said Paulo Alexandre, president of Romaco.
It took only six months for the two giants to get to know each other and deepen their relationship.
Source: Changsha Evening News