Steelcase Buys Furniture Manufacturer Ultra Group Co Ltd

Posted by MCC on September 28th, 2007 at 12:33am

Steelcase Inc. of Grand Rapids, Michigan has announced it’s intention to purchase Chinese office furniture company Ultra Group Co. Ltd. for 13.3 million dollars.

The sale is expected to be finalized before the end of 2007 if approved by the shareholders.

Ultra Group Co. Ltd. currently employs 1,000 workers. Steelcase Inc. intends to keep the workers employed when it takes control of the plant.

Under Furniture News