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Fenzi is no newcomer to China. Ever since this huge market opened up to free trade fifteen years ago it has been a major part of the Group’s activities and currently its second-ranking export market for quantity and value, and the first for a specific product range. On these bases Fenzi has gained a leading position in the Far East. The fast, steady growth recorded throughout this period has forced a decision which cannot be postponed further: directly supplying this market with products manufactured locally for optimal exploitation of its increasing potential. It should be underlined for example that China today produces more than half of the entire quantity of flat glass distributed worldwide. Two years ago therefore the Fenzi Group decided to build a production plant, locating an area of 56,000 square metres near the city of Jiaxing, approximately 100 km south of Shanghai, on the delta of the Yellow River. Unfortunately the political decision by the Chinese government to slow down economic growth considered excessive has led to a forced and generalised cooling-down of investments, causing a delay for Fenzi of almost nine months on the original schedule. The new plant will therefore be ready for autumn 2005 and is to cover the first 6,000 square metres planned, to be joined by a further 6,000 in 2006 and more in later years, until the entire project is completed. Production is to concentrate initially on backing paints for mirrors and then extend to ceramic paints and sealants. Naturally the market will indicate the most suitable direction and therefore which product ranges to favour and which to integrate, adding on each occasion all the new products and range diversifications required for maintaining and strengthening the leadership already gained.
The new company Zhejiang Fenzi Paints and Sealants Company Limited has the challenging and exciting task to search for opportunities for growth in the most dynamic market of the world.
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