Abifor secures global presence through participation in Abifor China Ltd.

We are pleased to announce that Abifor has once again acquired a stake in its partner company Abifor China Ltd. in order to strengthen its global presence.

Juerg Wyss, former Managing Director and owner of Abifor China Ltd. in Hong Kong and Shanghai Billeter Plastics Co, Ltd, is stepping back from day-to-day business to focus on strategic issues. Marco Cabalzar has been appointed as his successor with effect from April 1, 2024. Cabalzar, an experienced Swiss manager with many years of management experience in Swiss and German industrial companies in China, is very familiar with local conditions and is acquiring a stake in Abifor China Ltd. as a result.

As part of this transaction, Abifor AG, Zurich, is also acquiring a further stake in Abifor China Ltd. in order to secure its global presence.

Peter Hinder, Chairman & CEO of Abifor AG, commented positively on this development: "With this transaction we strengthen our very good cooperation with Abifor China Ltd. and secure our global presence. We are happy to have found in Marco Cabalzar an experienced industry manager and at the same time a profound connoisseur of Chinese culture. I wish him all the best for his start as Managing Director of Abifor China Ltd. and look forward to working with him. I wish Juerg Wyss all the best for the future and am pleased and happy that he will remain with us as a board member and advisor at a strategic level."

Background information: Shanghai Billeter Plastics Co, Ltd. was founded in 2005 by Abifor AG as a wholly owned subsidiary, followed by the establishment of Abifor China Ltd. the following year. Today, Abifor China Ltd. is the 100% owner of Shanghai Billeter Plastics Co., Ltd. In 2014, Juerg Wyss acquired 100% of the shares of Abifor China Ltd. as part of a management buy-out transaction.