U.S. Office Furniture Maker Targets China Market through Hong Kong Base
Photo shows (second from right) Associate Director-General of Investment Promotion at Invest Hong Kong, Mark Michelson; Chairman, President and CEO of HNI Corp., Stan Askren; Executive Vice President of HNI Corp., Marco Molinari; and President of American Chamber of Commerce in Hong Kong, Jack Maisano, at the opening ceremony of Lamex Showroom
After the acquisition of Hong Kong-based Lamex in March 2006, U.S.-based office furniture manufacturer HNI Corporation announced on January 16, 2007, the grand opening of its Lamex flagship showroom in North Point, Hong Kong.
The Lamex acquisition assists HNI Corporation in driving its business development of the Mainland China and Hong Kong markets.
Commenting on the inclusion of Lamex in its group of companies, Chairman, President and CEO of HNI Corporation, Stan Askren, said that Lamex's strong brand, significant customer base and manufacturing capabilities, offered HNI Corporation the opportunity to drive aggressive growth in Mainland China, one of the largest and fastest growing office furniture markets in the world.
Commenting on the advantages of Hong Kong as part of the company's growth strategy, Mr. Askren said the uniqueness of the city – with its "independent legal system, excellent financial environment, vibrant culture and central location" – made it an ideal place for overseas investors to expand their operations.
Lamex is an established and recognized market leader in the design, manufacturing and marketing of office furniture sold in Mainland China and Hong Kong. Its acquisition will allow HNI Corporation to tap Lamex's strong regional presence, which includes showrooms and sales offices in Hong Kong, Shanghai and Beijing, as well as a network of franchisees throughout Mainland China.
Branded under Lamex, the new flagship showroom showcases international award-winning office furniture, including chairs designed by the well-known U.S. brand Allsteel. The showroom aims to provide a one-stop service for clients - offering expert advice and a wide variety of office furniture options under one roof.
Founded in 1944, the New York Stock Exchange-traded HNI Corporation provides products and solutions for home and workplace environments. The company's 2005 sales reached US$2.45 billion.
The company was recognized for the eighth consecutive year as one of the 400 "Best Big Companies in U.S." by Forbes magazine, and was named one of "America's Most Admired Companies" by Fortune magazine.
HNI Corporation: www.hnicorp.com
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Invest Hong Kong: www.investhk.gov.hk
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