The Franke Group has acquired Chinese stainless steel kitchen taps and accessories manufacturer Nokite EcoSmart Water Heating Systems (Guangdong) Co., Ltd.
Established for over 20 years, Nokite employs around 150 people and claims to be the first producer of stainless steel taps in China, with global distribution.
Owned by AKW, Franke Group bought Nokite for an undisclosed sum and it will now become part of its Franke Home Solutions division.
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According to Franke Group, the integration of Nokite is an important step in strengthening its presence in the global market for kitchen taps.
It further reports regulatory trends towards the elimination of lead are expected to “rapidly” grow the stainless steel tap segment, making Nokite’s specific experience valuable to the group.
In return, Franke states its volume growth will leverage Nokite’s production assets and increase value creation.
CEO and president of Franke Home Solutions Barbara Borra highlighted the significance of the acquisition: “Nokite’s engineering capabilities are crucial to enhance our product offering.
“Their expertise in multifunctional taps aligns well with our strategic attention to the growing water treatment and purification market, driving further our commitment to high quality, intelligent kitchen solutions.”
It follows on from Franke’s acquisition of cooker hood manufacturer Westco Group.
Sintered stone manufacturer Neolith has launched Calacatta Roma and Cappadocia Sunset, inspired by nature and classical architecture, and for use in kitchens or bathrooms walls, floors, in gardens or facades.
They belong to The New Classtone and Fusioncollections which interpret marble and natural stone, respectively, and boast Neolith’s antibacterial NeolEAT technology.
Inspired by Ancient Rome, Calacatta Roma (pictured top) pays homage to Italian Carrara marble, with ochre and grey veins in a white background.
While the Cappadocia region, in central Turkey, with its rock formations formed by volcanoes and underground cities, has inspired Cappadocia Sunset (pictured below).
Just like all of Neolith’s surfaces, Calacatta Roma and Cappadocia Sunset are resistant to heat and atmospheric conditions, are 100% recyclable, and do not contain added quartz to their formulation.
Mar 14, 2024
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