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After the acquisition of HK-based Lamex in March last year, the second largest and most profitable office furniture manufacturer in the world, HNI Corporation, today (January 16) announced the grand opening of its Lamex flagship showroom in North Point.
HNI Corporation expanded into the Greater China region by acquiring Lamex last year. Currently Lamex is assisting HNI in driving its business development of the Mainland and Hong Kong markets.
Commenting on the inclusion of Lamex in its group of companies, Chairman, President and CEO of HNI Corporation, Mr Stan Askren, said, "Lamex's strong brand, significant customer base and manufacturing capabilities offer HNI Corporation the opportunity to drive aggressive growth in China, one of the largest and fastest growing office furniture markets in the world."
Mr Askren continued, "Hong Kong is an international city where East meets West. The uniqueness of this city, with its independent legal system, excellent financial environment, vibrant culture and central location, make it an ideal place for overseas investors to expand their operations."
Lamex is a long established and recognised market leader in the design, manufacturing and marketing of office furniture sold in Mainland China and Hong Kong. HNI Corporation will now be able to tap Lamex's strong regional presence which includes showrooms and sales offices in Hong Kong, Shanghai and Beijing, and a network of franchisees throughout the Mainland.
Branded under Lamex, the new flagship showroom showcases international award-winning office furniture, including chairs designed by the well-known US 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.
The Associate Director-General of Investment Promotion at Invest Hong Kong, Mr Mark Michelson, welcomed HNI Corporation's decision to invest in Hong Kong. He also congratulated the company on the opening of its showroom today.
Mr Michelson remarked, "Hong Kong is an international business capital, with nearly 3,850 regional operations of overseas and Mainland companies. Many of them require high-quality office furniture and professional advice for their new or expanded offices. We hope that the company will continue to find attractive opportunities in this market and the Mainland, and are ready to provide assistance as you develop your business. On behalf of Invest Hong Kong, I wish HNI Corporation and Lamex every success in Hong Kong, Mainland China and globally."
Founded in 1944 and traded on the New York Stock Exchange, US-based HNI Corporation provides products and solutions for the home and workplace environments. Its 2005 sales reached US$2.45 billion. The company was recognised for the eighth consecutive year as one of the 400 Best Big Companies in US by Forbes magazine, and was named one of America's Most Admired Companies by Fortune magazine. More information about HNI Corporation can be found at www.hnicorp.com.
Invest Hong Kong is the Hong Kong Special Administrative Region Government department charged with encouraging and facilitating investment into the city by providing the support needed to establish or expand a business presence here. For more information, please visit the website at www.investhk.gov.hk.
Ends/Tuesday, January 16, 2007
Issued at HKT 16:04
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