With the aim of reinforcing further its core manufacturing capabilities and streamline execution, GWC Italia has decided to stop production in China by year-end, transforming China’s footprint from manufacturing to trading.
Current China’s valve production will be moved to GWC Italia’s two existing plants (Italy and US) where new investments in capacity expansion have already been launched.
“China is however confirmed part of our growth strategy. The legal entity in Shanghai will be transformed into a trading company and the present Chinese supplier base further developed”, said Alessandro Corrente, Group CEO.
“This way we are re-focusing GWC Italia towards what we’re doing best and building a stronger Group. The fundamentals of the industry we operate in remain strong and GWC Italia’s current trading is very encouraging, standing out among peer competition worldwide. We’re pushing on.”