By Liz White, ERJ staff
Blackburn, UK-Scapa Group plc has bought out its Chinese minority joint venture partner Mei Wei Holdings Ltd for Â£345 000 (E500 000).
Scapa established the joint venture, Scapa (Hong Kong) Ltd, in February 2000 with Scapa owning 75 percent and Mei Wei the rest. Scapa said the buyout will enable it to expand faster to meet rising demand in China.
The deal will allow the Blackburn, UK-headquartered speciality tapes group to, â€œaccelerate plans for increased manufacturing capabilities within China,â€ and serve…