Fulltech Raises $30 Million

HONG KONG (Reuters) – CLSA Capital Partners said on Monday that one of its funds made a $30 million convertible bond investment in Taiwanese manufacturer Fulltech Fiber Glass Corp (1815.TWO: Quote, Profile, Research, Stock Buzz), which is in the process of boosting its capacity.

The $2.3 billion alternative asset management arm of Asian brokerage CLSA said the investment was made through its ARIA Investment Partners III LP fund.

The fund has now invested $160 million of its cash to date, CLSA Capital said. Other deals include a $20 million investment in Unitech Printed Circuit Board Corp (2367.TW: Quote, Profile, Research, Stock Buzz) last year.

The investment manager said fibreglass yarn manufacturer Fulltech, which had a 6 percent global market share last year, is constructing a second furnace to boost capacity.

CLSA is a unit of French lender Credit Agricole (CAGR.PA: Quote, Profile, Research, Stock Buzz). (Reporting by Jeffrey Hodgson; editing by Jonathan Hopfner)