BPC assumes full ownership of Chinese joint venture, renamed BPC Instruments (Zhejiang) Co Ltd

Report this content

BPC Instruments AB (“BPC” or the “Company”) is delighted to announce the successful completion of the equity transfer of its Chinese Joint Venture, formerly known as BPC Instruments (Haining) Co Ltd. With this transaction, BPC holds sole ownership of the venture, rebranded as BPC Instruments (Zhejiang) Co Ltd. The transition to complete ownership signifies the Chinese Joint Venture's improved revenue growth and market expansion within China over the last four years, positioning BPC for broader opportunities in both Chinese and international markets. Financial consolidation of the joint venture and BPC is anticipated to commence in the second quarter of 2024.

CEO at BPC, Dr. Jing Liu, comments:

“The journey of establishing a dynamic and loyal team in China to promote BPC’s products and provide technical support has been a rewarding four-year endeavor. Thanks to the dedication and hard work of our Chinese team members and their mentors from Sweden. The joint venture has achieved remarkable success in a relatively short period, even amidst the challenges of the pandemic. The transition to full ownership of the joint venture is a well-planned and executed step that positions BPC for expanded opportunities in both the Chinese and international markets.”

As communicated in the memorandum in connection to BPC Instruments AB’s IPO, BPC Instruments AB and Dr. Jing Liu formed a joint venture in July 2019 called BPC Instruments (Haining) Co Ltd. The ownership was split at 30 percent and 70 percent respectively and aimed at strengthening the market penetration of BPC’s products in China and establishing a supply chain. In November 2021, the parties signed a mutual shareholder agreement stipulating that BPC Instruments AB would acquire full ownership of the joint venture by July 2024 at the latest. This agreement has been fulfilled, and BPC now owns 100 percent of both the votes and capital in the joint venture, which has been renamed BPC Instruments (Zhejiang) Co Ltd.

The Chinese joint venture has played a pivotal role as a strategic business partner, facilitating BPC’s expansion and market penetration, as well as combating infringement in China, while also complementing its supply chain. Over the years, the joint venture has cultivated a professional and dedicated team, fostering seamless collaboration with BPC and contributing significantly to the Company’s market leadership in China. The expansion is assessed by the Board of Directors as a cost-efficient step to futureproof BPC’s long-term market leadership position in China and position BPC for broader business opportunities in international markets. As a subsidiary of BPC, the financial performance of the joint venture will be consolidated with BPC’s figures starting from the second quarter of this year.

For more information regarding BPC Instruments, please contact:

Dr. Jing Liu, CEO

BPC Instruments AB

Tel: +46 (0) 46 16 39 51

E-mail: ir@bpcinstruments.com

About BPC Instruments AB

BPC Instruments is a global Swedish-based pioneering technology company developing and offering analytical instruments enabling more efficient, reliable, and higher quality research and analysis for industries in renewable bioenergy and environmental biotechnology. The result is not only higher accuracy and precision, but also a significant reduction in time consumption and labor requirement for performing analysis. BPC Instruments’ innovative products offer high-quality hardware and software based on deep knowledge and experience of target applications. The solutions are the first of their kind, making the company a pioneer in its field. Today, BPC Instruments exports to nearly 70 countries around the world. BPC is listed on the Spotlight Stock Market in Sweden. For more information, please visit BPC’s webpage: www.bpcinstruments.com