PEN creates a new subsidiary in China
PEN Concept Group AB has established a new subsidiary in China, named PEN Concept Group (Suzhou) Co., Ltd. The new company, being wholly owned by PEN Concept Group AB, is located in Suzhou, west of Shanghai.
Through this entity PEN will engage in new development efforts, related to promoting Scandinavian design in China. The company Qingdao Oboya Shop Concept Co., Ltd. Will continuously primarily focus on sourcing and manufacturing of shop fitting items.
Johan Burtus, CEO at PEN Concept Group, explains:
“With this new structure we can allocate our resources more efficiently in China. Our staffs in Qingdao will continue with sourcing and manufacturing activities related to shop fitting solutions, while we isolate other development efforts to this new Suzhou entity.”
For any inquiry regarding this press release, kindly contact:
Johan Burtus, CEO, PEN Concept Group AB
Phone: +46 738 000 460
This information is insider information that PEN Concept Group AB is obliged to make public pursuant to the EU Market Abuse Regulation. The information was submitted for publication trough the agency of the contact person set out above, on May 23, 2018.
PEN Concept Group in brief
PEN Concept Group AB, headquartered in Jönköping, Sweden, is a turnkey supplier of interior products and solutions for shops, exhibitions, events, restaurants and showrooms. The group coordinates all required resources to offer customers both standard and customized interior solutions, including large scale productions. The Swedish operations is channelled through the subsidiaries PEN Interiör AB, PEN Shop Concept AB and Goods Sweden AB. The group also has a production and distribution facility, Qingdao Oboya Shop Concept Co., Ltd. in China.
The PEN brand represents solid know-how and experience in design, engineering, production and installation services for exhibitions, restaurants and retail customers. The GOODS brand covers a turnkey product range for restaurant businesses, including kitchen machinery, furniture and utensils.