Joyou AG / Key word(s): Miscellaneous
21.12.2011 12:40
Dissemination of an Ad hoc announcement according to § 15 WpHG, transmitted
by DGAP - a company of EquityStory AG.
The issuer is solely responsible for the content of this announcement.
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Frankfurt am Main, 21 December 2011. Joyou AG intends to set up a new
production plant for showerheads. The investment will help Joyou to develop
its business in the mid to high-end plastic resin products market. The
total investment amounts to approx EUR 44 million (RMB 400 million) and an
additional EUR 8 million (RMB 70 million) for working capital. The project
will be financed partly though the IPO proceeds and debt.
The plant will be built up to achieve a preliminary capacity of 7 million
units per year will be located at Shuitou Huayuan Galvanization Industrial
Park, Shuitou Town, Nan'an City in the Fujian Province.
Major products of the new plant will be plastic showerheads, brackets,
toilet seats, and other accessories and will mainly be sold in the domestic
market under the Joyou brand name.
The facility will be using the newest plastic resin technology. This
facility and the technology will replace currently out-sourced products and
lead to greater sales margins, design flexibility, quality control and
enhance the company's position as a supplier of complete bathroom
solutions. In the context of the existing cooperation, Grohe intends to
transfer some of its know-how in plastic resin production to Joyou and
support the company in setting up the new facility.
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Information and Explaination of the Issuer to this News:
Additional information:
ISIN: DE000A0WMLD8
Securities Identification No. (WKN): A0WMLD
Ticker Symbol: JY8
Listing: Regulated Market / Prime Standard at Frankfurt Stock Exchange
Legal seat of the company: Hamburg, Germany
Disclaimer concerning prognoses
This communication contains forward-looking statements. Forward-looking
statements are statements that are not historical facts instead they
reflect Joyou's current views and expectations and the assumptions
underlying them about future events. Forward-looking statements are subject
to many risks and uncertainties. If any of such risks and uncertainties
materialize or if the assumptions underlying any of Joyou's forward-looking
statements are proving to be incorrect, Joyou's actual results may be
materially different from those expressed or implied by such
forward-looking statements. Joyou does not intend or assume any obligation
to update these forward-looking statements. Any forward-looking statement
speaks only as of the date on which it is made.
For further information, please contact:
Joyou AG
Westhafentower, Westhafenplatz 1
60327 Frankfurt am Main
Ian M Oades, tel.: +49 69 710 456 346 or +86 595-8618 8883, ir@joyou.net
Kirchhoff Consult AG
Jens Hecht, tel.: +49 40 60 91 86 0, jens.hecht@kirchhoff.de
or visit the company website at: http://www.joyou.com
21.12.2011 DGAP's Distribution Services include Regulatory Announcements,
Financial/Corporate News and Press Releases.
Media archive at www.dgap-medientreff.de and www.dgap.de
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Language: English
Company: Joyou AG
Westhafentower, Westhafenplatz 1
60327 Frankfurt am Main
Germany
Phone:
Fax:
E-mail: ir@joyou.net
Internet: www.joyou.de
ISIN: DE000A0WMLD8
WKN: A0WMLD
Listed: Regulierter Markt in Frankfurt (Prime Standard); Freiverkehr
in Berlin, Düsseldorf, München, Stuttgart
End of Announcement DGAP News-Service
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DGAP-Adhoc: Joyou AG to set up new showerheads production plant
| Source: EQS Group AG