Tarkett has established a new joint venture in Hong Kong with 70 percent ownership. As part of the venture, a distribution company will be established in Shanghai. The name of the joint venture was not disclosed.
“This is another step to enable us to develop our sales in China. Tarkett already has an excellent brand reputation in flooring for the health and education sectors in China and a strong growth potential,” said Michel Giannuzzi, Tarkett Group ceo.
The Shanghai distribution company aims to achieve revenues of 30 million Euro (approximately $43 million) within three years. It also plans to develop regional sales teams. Currently, Tarkett sales in China are primarily in vinyl resilient flooring.
Tarkett announces Hong Kong joint venture
June 23, 2011