Case study

Collaborating to provide tailor-made global services

Omega Zeta, a subsidiary of a Spanish firm, develops and produces energy-efficient and environmentally friendly building material. Performance measures were not being met and therefore Morison ACPM (Spain) and CWCC (Hong Kong) were asked to team up to help analyse the situation and provide recommendations for improvement. This included HR, finance, sales and marketing, production, procurement, warehouse management, quality control etc. Omega Zeta accepted the recommendations and restructured their business, and implemented better internal controls.

The challenge

Corporation Omega Zeta SL (“Omega Zeta” or “OZ”), registered in Spain, has a wholly owned subsidiary in Nanjing, China, namely Omega Zeta (Nanjing) New Building Material Co. Limited (“OZNJ”) which is engaged in the development and production of new energy-efficient and environmentally friendly building materials.

OZNJ was established in 2011. Since the establishment of OZNJ, Omega Zeta has invested about EUR 15 million in OZNJ. However, OZNJ did not perform as expected. As such, the management of Omega Zeta wanted to review the operations in OZNJ to find ways to improve its performance.

The solution

The client was referred to CWCC by Morison ACPM, and between them the firms developed a project plan along with the client by exchange of documents and information.

Having walked through the production and business flows of OZNJ the firms performed a two week on-site project in Nanjing, reviewing different areas and documentation of OZNJ including human resources, finance, sales and marketing, production, procurement and warehouse, quality control, etc.


Thanks to CWCC we figured out the key points to turn around the business, especially auditing the performance of the whole executive staff of the company.

Luis Clusella, former FD Omega Zeta

The result

We reported the findings, the areas to be improved and recommendations to the management of OZNJ. Based on our report, the client has restructured their operations from management to finance to administration. We also helped the client to recruit suitable employees. In addition, a new ERP system was also implemented in OZNJ for better internal control.

About the firms involved

Morison ACPM

Morison ACPM is a full service firm with offices in Madrid and Barcelona, operating throughout the country. We rely on a team of highly qualified professionals and a wide selection of services that allows us to respond, assist and advise any type of business.

CWCC

CWCC is a professional advisory firm providing a full range of business services in Hong Kong and major cities in mainland China. We offer specialist business advisory focusing on China, audit and other assurance, tax, corporate secretarial and business process outsourcing.

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