According to company sources, Haers is the world’s largest producer of stainless steel bottles and vacuum food containers. By taking over the Swiss manufacturer, the Chinese firm aims to enhance its global business.
The move to buy Sigg did not come as a surprise, though. Back in October 2015, Haers had indicated its intentions. Apparently, the Chinese negotiators managed to arrange a better deal. At the time, there was talk of 18 million Swiss francs (16.4 million euros). The purchase price was now set at 16.5 million francs (15.1 million euros).
Sigg, global market leader in reusable aluminium bottles, was bought by The Riverside Company in 2003.