Elis closes the acquisition of Wonway in Malaysia
Elis enters Malaysia with the acquisition of Wonway
Saint-Cloud, 1 July 2024 – Elis, the global leader in circular services at work, today announces the acquisition of 100% of Wonway Manufacturing SDN. BHD. (« Wonway ») in Malaysia.
Founded in 1984, Wonway provides reusable garments services in Cleanroom to mainly international groups operating in semi-conductors, medical devices, and chemicals industries. The group employs around 200 employees and can address the entire Malaysian territory thanks to 3 specialized laundries, located in the regions of Kuala Lumpur, Penang, and Malacca.
In 2023, Wonway delivered revenue close to 29 million ringgits (c. €5.9m), with an EBIT margin of c. 15%. The acquisition will be consolidated from 1 July 2024.
Malaysia is a country of around 34 million inhabitants. The country is ranked as one of the best emerging countries in terms of business environment and is the 4th largest trading partner of France in Southeast Asia. Finally, the country is the 2nd largest contributor to GDP per capita of the ASEAN (Association of Southeast Asia Nations) region after Singapore, with +5% growth expected in 2024.
Commenting on the announcement, Xavier Martiré, Chairman of the Management Board of Elis, said:
« With the acquisition of Wonway, Elis continues its growth strategy and expand its network to the Asian continent. This small acquisition will enable Elis to get familiar with the local market. Wonway benefits from both the high profitability of the Cleanroom activity, and the dynamism of one of the best economies of Southeast Asia. Thus, we are particularly confident regarding Wonway’s growth outlook and we are pleased to welcome its 200 employees, along with its Management who will remain in place. »
About Elis
As the leader in circular services, thanks to a rental-maintenance model optimized by traceability technologies, Elis innovates every day. In its 30 countries, Elis meets the needs of its customers in terms of protection, hygiene, and well-being, while assisting them in achieving their environmental objectives. With unique operational know-how and a profitable organic growth profile, Elis creates sustainable value for its shareholders, customers, employees, and the environment.
Contacts
Nicolas Buron
Director of Investor Relations, Financing & Treasury
Phone: + 33 (0)1 75 49 98 30 – nicolas.buron@elis.com
Charline Lefaucheux
Investor Relations
Phone: + 33 (0)1 75 49 98 15 – charline.lefaucheux@elis.com
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