Konica Minolta Sets up New Sales Company in High-Growth Thailand
Konica Minolta of Japan reports that it’s set up a new wholly owned office-equipment sales subsidiary in Thailand, investing 369,000,000 Thai Baht (approximately $11 million U.S.) into the new subsidiary.
The firm says it’s been distributing its office equipment in Thailand through local distributorship. However, because it expects high economic growth in Thailand, and increasing demand, it says it became essential to formulate a sales strategy to better meet the specific needs in the Thai market and thoroughly focus on local customers. Consequently, it decided to establish the new subsidiary, Konica Minolta Business Solutions (Thailand) Co., Ltd. (BTH), to increase office-equipment sales in Thailand. The subsidiary will sell Konica Minolta’s office MFPs and printers, and production-printing systems, as well as related supplies.
On April 25th, Konica Minolta Business Solutions Thailand also completed a business transfer agreement with Inter Far East Engineering Public Company, the Thai distributor of Konica Minolta office equipment. Under the agreement, Inter Far East Engineering Public’s office-equipment business was transferred to Konica Minolta Business Solutions Thailand. The agreement is subject to approval by Inter Far East Engineering Public’s meeting of shareholders on June 3rd, and is expected to become effective on July 1st.
Managing director for the new sales subsidiary is Osafumi Kawamura, and the company will be located at 399 Interchange 21 Building, 32 FL., Sukhumvit Road, North Klongtoey Sub-District, Wattana District, Bangkok Metropolis in Thailand.