Asia Timber Products (‘ATP’) was created by the merger of Plantation Timber Products (‘PTP’) and Asia Dekor (‘AD’), two pioneers in the wood panels and laminate flooring industry in China. In September 2006, CVC Asia Pacific Funds acquired PTP from Carter Holt Harvey, the leading New Zealand wood products company, in a transaction that represented one of the first leveraged management buy-outs in China. Asia Dekor was subsequently acquired in March 2008.
Today, the company is a leading manufacturer and distributor of high-end medium-density fibre board (‘MDF’), particleboard and laminate flooring. Founded in 1993, it currently has 935,000 cubic metres of MDF/particleboard and 24.5 million square meters of laminate flooring production capacity with plants in Guangdong, Hubei and Sichuan provinces. The company’s ‘Ji Xiang’ brand is well known to wood products customers throughout China.
ATP is a unique player in this sector with a strong market position in the high-end segments. It is a well managed company with a professional management team and strong financial reporting systems.
The management team has made significant progress in turning around the business despite a challenging market environment. We are confident that the strategic initiatives to improve efficiency and profitability will bring tangible benefits to the business.