A new rubber floor coating company has been acquired by Chinese company China Peking University, which will focus on rubber floor construction and coatings for its factories in Canada and the US.
The company, called Rubber Floors Canada, was founded by two Canadian entrepreneurs who also have been active in the world of plastic flooring.
The company will be run by its president and CEO, James Leung, who also worked at the University of Guelph, according to the company’s website.
Leung and his team at the company will “focus on our mission to manufacture, package and sell high quality, environmentally friendly, high-performance, and sustainable flooring products in Canada, the US, Mexico, Japan, India and Australia,” the company said in a statement.
The Canadian government is expected to announce its next move on Wednesday.
“The company is the first Canadian-led global company to enter the global supply chain and is the newest addition to the Global Industry Leaders Program (GILP),” said an emailed statement from the Canadian Foreign Affairs and International Trade Ministry.
The announcement comes just days after Prime Minister Justin Trudeau announced that Canada will offer $6.6 billion in new infrastructure funds to help build a network of pipelines and ports, among other initiatives.
Leung said in an interview that the move to Canada will help him and his group create a better business model for the company.
“We have been working on this for over a year, but we are really looking to get the right people in place,” Leung said.
“Our goal is to build the largest factory in Canada.
We are very much focused on the supply chain.
We think we can build it fast and the price is right.”
Leung and the company have been involved in rubber floor production for years.
In 2014, they opened their first factory in Guelpmontown, Ont., a community in the Ontario, Quebec and New Brunswick province in the heart of Ontario’s maple syrup production.
The factory, which is part of Rubber Floers’ Ontario operations, has been producing floor mats, carpets and other rubber products since late 2013, the company stated.
The rubber company was also a leading producer of pvc-coated rubber floor mats in the United States.
In the United Kingdom, Rubber Floards is owned by a group of Canadian entrepreneurs.
In June, the Canadian government announced that the Canadian Rubber Products Association (CPRA) would take over the operations of the company and move it to a new headquarters in London.
That move followed an announcement by the Canadian Commercial Corporation (CC) that the CPE Group, a joint venture between a global shipping company and the Canadian shipping company, would acquire Rubber Floals in a $5 billion deal.CPRAs managing director John Schmaltz said in June that the CPRA had been working closely with Rubber Floings since 2015.
“Over the last year, we have built a relationship with the company which is already solid,” Schmaloz said.
The CPRAs decision to move Rubber Floing to London is part in the CPRAs strategy to diversify the company, Schmalfetz said.
“We have a really strong relationship with Rubber Floorings,” he said.
The CPRAs is a private corporation, which means it is not subject to Canadian or British laws.
The government has given CPRAs a mandate to sell Canadian-made rubber floor products, including rubber floor coatings, as well as produce rubber floor tiles, he said, adding that the company was already looking to expand into the United Arab Emirates and China.
“In China, there are some very well-known companies that have been making rubber floor coats for quite some time,” Schalalfetz added.
“It is an opportunity for us to be able to bring our expertise and expertise to these markets.”
In China and the United states, Rubber Flooring has been building a reputation as a quality floor coating.
The Canadian company has sold more than 1 million of its rubber floor covers since 2010, according the company website.