SONEPAR STRENGTHENS ITS PRESENCE IN ASIAN MARKETS
Four companies have recently joined Sonepar in Asia, adding €23 million in sales and 67 associates to the Paris-based electrical distributor’s Asian footprint. Sonepar said the moves reinforce its position in the Hong Kong and Macau markets and boost its oil & gas presence throughout Southeast Asia.
In Hong Kong and Macau, HipTung Cables and Min Kwong Electric join Sonepar affiliate Supermoon. Supermoon has entered partnership with HipTung Cables, a specialized power cables distributor operating in Hong Kong and Macau with sales of more than €11 million in 2013.
Supermoon also added Min Kwong Electric, one of the oldest local electrical wholesalers in Hong Kong, with sales of €3 million in 2013.
In Singapore and Thailand, Sonepar’s Oakwell business unit added to its offerings in the oil & gas market with the acquisition of Dilon and the formation of a new joint venture named ETS-Oakwell.
Dilon will join Oakwell in Singapore, effective December 31, 2014. Dilon is a Singaporean specialized distributor of fasteners and machined components for the oil & gas and marine industries, with annual sales of €3 million.
In Thailand, a joint venture between ETS Engineering, ETS Provider and Oakwell has seen the creation of ETS-Oakwell, a new company based in Bangkok. With sales of over €6 million, ETS-Oakwell will officially join Oakwell on December 29, 2014, Sonepar said in a release.
By latest count, Sonepar now employs more than 36,000 associates in over 190 business units operating in 41 countries. The company posted sales of €16.3 billion in 2013.