July 27, 2012

Siat entered into a partnership with the Singaporean based GMG Global Ltd (GMG)

Dear All,

As you probably know, on February 21st, 2012, Siat entered into a partnership with the Singaporean based GMG Global Ltd (GMG), a subsidiary of Sinochem International from China. Last week, on the 17th of July, GMG acquired a 35% stake in the Siat holding company, in Belgium. To celebrate this event we organized an official ceremony in Brussels. You can view the pictures of this joyous event via the following link: www.alohafred.com/Siat

This minority share investment in Siat by a Chinese partner is a very strong vote of confidence in the management skills of SIAT in the field of tropical agro-industrial concerns. It is the first time, in its 63 years of history, that the Sinochem Group takes a non-controlling stake in a company, thereby recognizing the very high level of expertise of the Siat management and employees.

This partnership brings two major positive changes for Siat:

  • GMG and Sinochem are major players in the Asian and Chinese natural rubber market. GMG will act as marketing agent for the Siat Group rubber products, and open the doors to the Chinese market.
  • Through the fresh capital injection, Siat has the means to consolidate its existing position in Africa, and accelerate its growth plans in other countries, such as Cambodia, Indonesia and others.


This partnership will boost the development of Siat, for the benefit of all its valued stakeholders, uniting 2 cultures, the experience, qualities and people of three continents, opening a vast range of new possibilities for the both of us on the road to success in Europe, Africa, Asia and far beyond.

Siat’s new strategic partner fully shares the Group vision. A joint “Strategic Investment Committee” is put in place to allow both companies to capitalize on each other’ skills and resources and maximize growth, whilst Siat keeps it full independence for the day-to-day operational management. 

Helena Vandebeeck
Managing Director

 

 


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