Armstrong raised capital for automotive business

 Armstrong Industrial Corporation Limi ted, a leading foam and rubber component manufacturer specialising in noise, vibration and heat management for the automotive and electronics industries, plans to accelerate its automotive business growth in China by setting up two new manufacturing plants in the next 3 years. “Armstrong remains committed to drive sustainable double-digit growth rate for our Automotive business in China in the coming years. The Group deploys a three-pronged marketing strategy across geography, key customers and valueadding products to achieve this objective. Along with our plans to build new plants, we are actively engaging more OEM customers at the design and development stage to establish a stronger market share in the long term,” said Mr. Gilbert Ong, Chairman & Chief Executive Officer. In line with its plans in China, Armstrong together with its German joint venture par tner, Odenwald-Chemie Gmbh, has raised the capital in its 80% owned Armstrong-Odenwald (Asia) Pte Ltdfrom S$4.9 million to S$6.5 million.