SHANGHAI, Dec. 25, 2014 /PRNewswire/ — Tyco, the world’s largest pure-play fire and security company, announced that it has completed the acquisition of Shanghai Jindun Firefighting Technology Co., Ltd. (Jindun). The acquisition is in line with Tyco’s "local-for-local" strategy to deliver customized products and solutions to meet China’s local market requirements.
Jindun is one of the largest fire suppression equipment manufacturers in mainland China. It offers a wide range of products and systems in both water and special hazards products, and caters primarily to the local market. Jindun has a strong focus on product development and technology, having obtained more CCCF qualifications than any of its peers in China, and operates both a manufacturing facility and test lab in Shanghai, China.
Commenting on the acquisition, Benny Goh, President of Installation and Services, Tyco Asia, and President of Tyco China, said, "China is one of the most important growth markets for Tyco, and localization has been one of our key strategies in improving market penetration and enhancing our competitive advantage. In line with this, we have been taking a disciplined, yet active approach to M&A and partnership opportunities that present a long-term strategic fit. Jindun differentiates itself with a strong innovation culture that drives its leading position within the China market, which is highly aligned with Tyco’s strategic priority in R&D investment and technological innovation. The integrated platform will broaden our fire product portfolio and strengthen our sales reach into key high-growth verticals including oil and gas, marine, and offshore."
"Fire industry is a unique industry committed to the protection of lives and assets. We are honored to be a part of this industry, and the addition of Jindun to our portfolio demonstrates our commitment to our customers. Jindun’s strength in water- and gaseous-based fire suppression products will support our long-standing strategy of delivering customized technology, products and solutions to meet China’s local market requirements. The new integrated platform will definitely provide new synergy and opportunities for our customers, partners and employees," Mao Ying Jun, General Manager of Tyco Fire Products, Greater China, added.
The acquisition was completed on December 9.
Tyco is the world’s largest pure-play Fire Protection and Security Company. Tyco provides more than three million customers around the globe with the latest fire protection and security products and services. A company with $10+ billion in revenue, Tyco has more than 57,000 employees in more than 1,000 locations across 50 countries serving various end markets, including commercial, institutional, governmental, retail, industrial, energy, residential and small business.
For more information, visit the China website: www.tyco.cn