ManWah Holdings Acquires Vietnam Upholstery Factory, Timberland
Furniture World News Desk on
7/20/2018
ManWah Holdings recently announced the purchase of one of the Largest Upholstery factories in Vietnam. The deal closed late June 2018 and the acquisition expands the capacity of ManWah to over 18 million square feet of upholstery manufacturing, making ManWah Holdings one of the Largest global upholstery manufacturers in the world.
Over 25 years ago, Wong Man Li, Chairman of ManWah Holdings, was a pioneer in building factories in China using the costs advantages to produce quality products with a Value Proposition. In this time, he has been able to build a business of over $1.2 Billion in global sales. Today, continuing as a pioneer with aggressive expansion plans, he has identified Vietnam as a country with tremendous possibilities. “After visiting the Timberland factory, I realized their commitment to customer service and focus on Quality Production, which matched the Core Values of ManWah Holdings, so it made smart sense to buy the factory and bring it into our family” states Mr. Wong. Today Vietnam is one of the fastest growing countries exporting Furnishings to the North American Market as well as around the world.
Responsibility for the factory falls under Guy Ray, CEO of ManWah USA. “This factory with over 1,000 employees gives us the needed additional capacity for our customers, as well as capacity for our expansion plans in North America. Buying a factory in Vietnam also addresses the ongoing possible tariff issues between China and the United States”, States Ray.
The Timberland Factory was part of the Green River Factories in Vietnam. Production at this new factory started in 2012 shipping to the North Americas, Europe and South East Asia. The factory today has a little over 1.2 million square feet of production capacity. Timberland today can ship up to 1,000 containers per month.
ManWah Holdings has also announced that it will immediately add new equipment, and hirer additional staff. ManWah will also begin construction almost immediately on an additional 2 million square feet to be completed by July 2019. This expansion will triple the current capacity to over 3000 containers per month. This is all an effort to meet current demand of our US and North American Customers.
Ray stated that Simon Siow will continue as General Manager and the management team of Timberland will remain on under the new ownership. “Simon and the ManWah Operations team are working closely together to quickly integrate systems and capabilities to ensure the transition is smooth and as customer friendly as possible.”
More about Man Wah: Man Wah Holdings Limited was founded in 1992. The Group has its headquartered in Hong Kong of the People’s Republic of China with numerous subsidiaries, branches and associated companies across the major markets and cities of the world, including those in the US, Canada, United Kingdom, China and Singapore. In 2005, Man Wah Holdings was listed in Singapore and became the first Chinese furniture enterprise listed on the Main Board of the Singapore Stock Exchange. After delisting from the Singapore Stock Exchange in September 2009, it was listed on the Hong Kong Stock Exchange (stock code: 01999) in April 2010.
The Group is mainly engaged in the research, development, production, sale and related services of sofas, mattresses, panel furniture and furniture accessories. As a flagship enterprise in the Chinese furniture industry, the Group has over 200 self-developed products which are patented and have passed the quality certification. The sofa product under the “CHEERS” brand of Man Wah has received the title of “Famous Chinese Brand”, while the “Enlanda” mattress has been honored as a “Designated Product for Veteran Cadres of the Central Authorities of the State”. Thanks to our professional technologies and excellent after-sale services, our products are sold in more than 80 countries and regions.