New Zealand GWA Sold Heshan Merthaven Factory, Guangdong Shino Bathroom Takes Over
Original Long Er Kitchen & Bathroom News
On August 16, New Zealand plumbing manufacturer GWA Group released its FY21 results report. In the report, GWA sold the Merthaven China factory, Heshan Merthaven Sanitary Ware Co. The factory’s predecessor (Heshan Everson Sanitary Ware Industrial Co., Ltd.) had been acquired by Merthaven in 2014. (Related links: Heavyweight | 530 million yuan! The strong merger of Australia and New Zealand bathroom giants)
Kitchen and bathroom information query enterprise search found that Heshan Methven Sanitary Ware Co., Ltd. changed in March this year from a limited liability company (wholly foreign-owned) to a limited liability company (domestic joint venture with Hong Kong and Macao). Its legal representative was changed to Su Baoji. At the same time Richard Thornton, executive director of GWA Group and chairman of Heshan Merthaven, Patrick Gibson and Timothy Salt, directors, Anthony Mortimer, general manager, and other Merthaven personnel withdrew. In July the company name changed to Guangdong Shino Sanitary Technology Co.
|1||2021-07-14||Name Change||Heshan Methven Sanitary Ware Co.||Guangdong Shino Bathroom Technology Co.|
|2||2021-07-14||Charter amendment filing||Zhang Cheng||Charter Amendment|
|3||2021-07-14||Change of business scope||Production and operation: hardware accessories, sanitary products, plastic products. Research and development and Provide consulting services for the above products. (Projects subject to approval in accordance with the law, approved by the relevant departments before carrying out calamus activities)||Hardware products research and development
Production, operation: five full accessories, bathroom products, plastic products. Research and development and provide consulting services for the above products. (Projects subject to approval in accordance with the law, after approval by the relevant departments before the opening layer of business activities)
|4||2021-03-10||Foreign shareholder promoters of domestic legal documents served to accept the record||Deng Jiehua [quit]||Jiahui He|
|5||2021-03-10||Change of shareholder||–||Change of shareholder|
|6||2021-03-10||Charter filing||Amendment to the Articles of Incorporation||Charter|
Those marked with * are legal representatives
|Richard Thornton, Chairman [Withdrawal]
Patrick Gibson, Director [Withdrawal]
Timothy Salt, Director [Withdrawal]
Anthony Mortime, General Manager [Withdrawal]
Deng Jiehua, Supervisor [Withdrawal]
|Su Baoji*, Executive Director, Manager [Added]|
|8||2021-03-10||Legal representative change
The emperor has * mark for the legal representative
|Richard Thornton||Su Boji*|
According to the enterprise search results show that the Guangdong Shino Bathroom Technology Co., Ltd. belongs to FLOWTECH COMPANY LIMITED. The latter’s official website shows that its companies include Ningbo Shino Sanitary Ware Co, Ltd, Zhuhai Shulima temperature-controlled sanitary equipment Co, Ltd, Zhongshan Shibei Kitchen & Bathroom Products Technology Co, Ltd, Zhongshan Jiabao Road Kitchen & Bathroom Products Co, Ltd, and many other companies.
In fiscal 2021, GWA’s revenue increased by 1.8% to $405.7 million. EBIT decreased by 4.1% to $68.5 million. The announcement noted that strong growth in the New Zealand and U.K. businesses helped support revenue. However, the continued decline in the engineering channel in Australia weakened performance due to the embargo. Renovation and replacement activity in the residential and commercial sectors is expected to drive flat to slightly higher results. The blockade in Sydney and Melbourne may impact its business due to the blockade.
The building materials industry was significantly impacted by the Australian embargo, which restricted construction activity in the states, such as a 30 percent cut in capacity at Brickworks, an Australian brick-making company. In July, the company’s sales plummeted by nearly 80 percent.
As the global supply chain is affected by the epidemic, pushing up the cost of building materials, so is Australia. According to global consulting firm Turner & Townsend, steel prices in Sydney have risen by 10 percent, rebar prices by 20 percent, and timber prices by 25 percent between 2020-2021.