Zep Inc. Opens Wholly Owned Foreign Entity In China
Zep Inc. (NYSE: ZEP), a leading consumable chemical packaged goods
company that manufactures a wide variety of high-performance maintenance
and cleaning chemicals, today announced the official opening of its
Zep Inc. (NYSE: ZEP), a leading consumable chemical packaged goods company that manufactures a wide variety of high-performance maintenance and cleaning chemicals, today announced the official opening of its wholly-owned foreign entity in the People’s Republic of China. The company, registered as Jie Pu Hui Tong Trading Co. Ltd., is importing and distributing Zep Inc.’s maintenance and cleaning chemicals from the US and Europe. It is focused on the industrial manufacturing sector and other commercial markets including automotive aftermarket, aviation, and energy. Thus far, Zep China has developed an active distribution network covering more than 50 major metropolitan areas across China. “With China having the second largest economy in the world and over 30% of its GDP coming from the manufacturing sector, we feel our broadly defined, high efficacy Industrial-MRO and Automotive portfolio is appropriately aligned with market opportunities undergoing strong organic growth,” said John K. Morgan, Chairman, President and Chief Executive Officer of Zep Inc. “We intend to develop our business in China in the same vertical markets where we excel in the U.S. with established local sales, warehousing and logistics support in the three major cities of Beijing, Shanghai and Guangzhou. In developing our China implementation plan, we utilized our Zep Business System (ZBS) value stream mapping and other lean processes to design capabilities to best meet the needs of our customers in China,” said Joe Krystofik, Vice President, International Business Development of Zep Inc. About Zep Inc. Zep Inc., with fiscal year 2012 net sales of $654 million, is a leading consumable chemical packaged goods company selling a wide variety of high-performance chemicals that help professionals and prosumers clean, maintain and protect their assets. We are focused on the attractive industry dynamics of the transportation market and the industrial maintenance and repair operation ("MRO") market, which together now comprise approximately 61% of our revenue with the balance derived from sales into the facilities maintenance vertical. We market these products and services under well recognized and established brand names, such as Zep®, Zep Commercial®, Zep Professional®, Enforcer®, National Chemical™, Selig™, Misty®, Next Dimension™, Petro®, i-Chem®, TimeMist®, TimeWick™, MicrobeMax®, Country Vet®, Konk®, Original Bike Spirits®, Blue Coral®, Black Magic®, Rain-X®, Niagara National™, FC Forward Chemicals®, Rexodan®, Mykal™, and a number of private label brands. Founded in 1937, some of Zep Inc.'s brands have been in existence since 1896. Zep Inc. is headquartered in Atlanta, Georgia. Visit our website at www.zepinc.com. About Jie Pu Hui Tong Trading Co. Ltd. Jie Pu Hui Tong Trading Co. Ltd imports and distributes Zep Inc.’s high-performance maintenance and cleaning chemicals in the People’s Republic of China through a network of distributors covering more than 50 markets. In China, the Company is focused on the industrial manufacturing sector and other commercial markets, including, automotive aftermarket, aviation and energy. Visit our website at www.zepasia.com.
Looking at the universe of stocks we cover at Dividend Channel, on 1/14/15, Zep Inc will trade ex-dividend, for its quarterly dividend of $0.06, payable on 2/2/15. As a percentage of ZEP's recent stock price of $14.92, this dividend works out to approximately 0.40%.