December 10, 2012
Shenzhen and Shanghai candidates for research and development centre as Pelikan International redirects focus away from Europe.
Pelikan International has announced that it is planning to establish a research and development centre in China following the announcement that China Stationery Ltd has purchased a 9.79 percent stake for Rm 50 million ($16.3 million/€12.5 million) via a share swap, reports Visions & Trends.
Likely sites identified include Shenzhen and Shanghai, with Visions & Trends speculating on the move as signalling Pelikan’s intentions to shift focus away from its “ailing European operations” that makes up approximately 80 percent of its business.
The announcement following the signing of a two-year distribution agreement with China Stationery with regards to its stationery products, with Pelikan CEO Loo Hooi Keats commenting: “China is such a vast market. Without this agreement, expanding there would have taken us a lot of time and expenses.”
Information made previously available to The Recycler indicated that Loo Hooi Keats was “in advanced talks over a number of topics including the future of its inkjet and toner business; moving production to China; and options to close or sell the Swiss-based company”, which Pelikan Hardcopy Production has categorically denied.
Categories : City News