# Saint-Gobain Abrasives acquires 25% stake in Kingshark New Material Technology

Saint-Gobain Abrasives (Shanghai) Co., Ltd. announced the acquisition of a 25% equity stake in Kingshark New Material Technology (Chongqing) Co., Ltd., a non-woven abrasives manufacturer.

- Type: Acquisition
- Announced: 2023-01-11
- Where: Chongqing, China
- Status: announced
- Products: non-woven abrasives, bonded abrasives, coated abrasives, thin wheels, adhesives, sealants
- Sectors: [Industrial Machinery](https://endata.com/sectors/industrial-machinery.md)

## Companies

- [Saint-Gobain Abrasives](https://endata.com/companies/67804.md) (acquirer)
- [Kingshark New Material Technology](https://endata.com/companies/67805.md) (target)

## Sources

- [saint-gobain.com.cn](https://www.saint-gobain.com.cn/en/node/18371), 2023-01-11: "This equity participation is fully in line with Saint-Gobain Group's 'Grow & Impact' strategy that is being successfully implemented in Asia Pacific to reinforce its leadership in the industrial markets."

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Data from Endata (https://endata.com/). Announcements are summarized from public sources and may be incomplete; check the linked originals.