Issued by: FuSheng Precision
Issued on: 2020/10/15
Taipei, Taiwan, October 15, 2020 – FuSheng Precision Co., Ltd. (“FuSheng Precision”) has come to a board resolution, with our strategic partner TGVest Capital, to jointly acquire 100% stake in Minson Integration, Inc. (“Minson”) for NT$1,600 million. Of which, FuSheng Precision will invest NT$1,360 million to hold 85%, while TGVest Capital will invest NT$240 million to hold the remaining 15%. Minson is a leading manufacturer of ice and extreme sports equipment on OEM/ODM basis, owning a couple of international renowned brands in customer list. In cooperation with Minson, FuSheng Precision is able to provide more comprehensive product offerings to more sports business partners in all the four seasons.
LC Lee, Chairman of FuSheng Precision, indicated that consumer’s expectation for sports has been upgraded from “health and contest” to “lifestyle experience”. The winter and extreme sports goods business we are acquiring from Minson and the golf business we currently run are both premium activities. With the improvement of living standards in the world, these premium sports continue to attract more new players, which will act as our new growth momentum for years to come. Roger Chiang, CEO of FuSheng Precision, is very impressed with Minson’s excellent management team, efficient production management and strong customer relationship. As FuSheng Precision and Minson share similar business model and complementary business domain, the synergetic effect can be expected through this strategic partnership.
Minson is mainly engaged in manufacturing of ice hockey skates, ski boots, ice skates, cross-country motorcycle boots, extreme sports footwear and related protective gear, which are niche, upscale, and high-customized products. Core technology is its strong capability of highly integrating three major skills - stitching technique, plastic injection and metal stamping. Minson is headquartered in Taipei, setting up an advanced R&D center in Taoyuan and 6 production sites in Thailand, already accumulating decades of manufacturing experience. Head count is more than 2,000.
With the add-on business through this collaboration, FuSheng Precision will enjoy more diversified product portfolio, covering all the four seasons’ sports gear businesses in the product portfolio. In addition, the two companies have different customer bases that are all leading brands in their respective filed. Both are also proficient in the managing labor-intensive and multi-step manufacturing process. In consolidation of customer resources, technical capabilities and industry knowledge with Minson, FuSheng Precision is able to deliver more advanced and complete product solutions. Besides, the addition of Thailand sites, along with our Taiwan, China, Vietnam and the US plants, will further replenish our production resource, optimizing our manufacturing loading and increase our logistics flexibility.
* The closing of the transaction is subject to satisfaction of certain closing conditions and certain purchase price adjustments.