In the News: 2008
Lombard invests US$15 million in San Shing Fastech Corporation, a leading Taiwanese automotive parts manufacturer
San Francisco, CA - June 17, 2008
Lombard Investments, Inc. announced a $15 million investment in Taiwan-based San Shing Fastech Corporation (“San Shing” or the “Company”), one of the world’s leading manufacturers of high quality automotive fastener systems. The transaction closed on May 28, 2008. The Company will use the proceeds to expand its product line and enter new markets. Lombard will join the Company’s board of directors.
Mr. Thomas J. Smith, Managing Director of Lombard, said, “Lombard is very pleased to become a long-term investor in San Shing. The Company enjoys an extraordinary reputation for high quality and creative engineering, and is very well positioned for growth in the global automotive parts industry. We look forward to many years of fruitful co-operation with San Shing.” Mr. Ko Chi-Yuan, Chairman of San Shing said, "San Shing also looks forward very much to a long term partnership with Lombard."
About San Shing Fastech Corporation:
San Shing was founded in Taiwan in 1965, and listed on the Taiwan OTC in 1998. The Company employs more than 1,100 skilled workers at its manufacturing facilities in Tainan Hsein, Taiwan. The Company operates as a fully integrated manufacturer, designing and producing tooling dies and production machinery, in addition to automotive fastener systems. BMW, Ford, GM and Mercedes-Benz are counted among end users of the Company’s products. San Shing has earned several quality assurance certificates including ISO 9002, QS 9000, and ISO 14001 among others. (www.sanshing.com.tw)
Lombard made its investment in San Shing through an affiliate of Lombard Asia III, the firm’s South East Asia and Greater China private equity fund. This is the fifth investment for Lombard’s 2007 vintage fund.