Gränichen/Switzerland, 28 June 2016 – The Zehnder Group is increasing its share in the Chinese ventilation company Shanghai Nather Air Tech Co., Ltd. from 51 to 75.5%.
The Zehnder Group is increasing its share in the Chinese ventilation company Shanghai Nather Air Tech Co., Ltd. (Shanghai Nather) from 51 to 75.5%. The Group is taking over the minority shares of one of the two company founders, who is withdrawing from business activities at Shanghai Nather. The other 24.5% will remain in the possession of the second founder and managing director of Shanghai Nather. Shanghai Nather was founded in 2005 and has been operating as a subsidiary of the Zehnder Group since June 2010. The company, which has its headquarters in Shanghai, develops, produces and sells ventilation components (heat recovery units, exhaust fans, etc.) for residential construction in China. It has around 80 employees. Shanghai Nather occupies a leading position in the growing market for energy-efficient indoor comfort solutions. The transaction will proceed subject to approval by the local authorities. The parties have agreed not to disclose the purchase price.