Allgon's international expansion continues with the establishment of a new subsidiary in France
Allgon strengthens its global reach through the establishment of Tele Radio's own subsidiary in France within region Rhone-Alpes. In September, Allgon already announced the establishment of two other subsidiaries in Brazil and Russia.
Allgon operates in a global market and delivers industrial radio control to customers in the industrial, mobile and mining markets, all with high demands on functionality and security. France is one of the world's leading economies and third largest in Europe, with GDP estimated to reach over USD 3000 billion in 2019[1]. The country has a large industrial sector and extensive agriculture, which offers good potential for Tele Radio's offer.
- We believe that the French market offers good growth opportunities for Tele Radio. Our customers are becoming increasingly sophisticated in their efforts to streamline their processes. This development drives demand for radio remote control and with our own dedicated subsidiary, we can meet the French market in a whole new way, says Tele Radio's CEO Ola Samelius.
Tele Radio France will be led by Mark van der Elst who has extensive experience in automation and has worked with Tele Radio's radio control solutions since 1987.
- I am grateful and proud of this opportunity and the confidence I have gained to lead Tele Radio's operations in France. With Tele Radio's robust product range and local support, we have all the potential to gain a larger market share in the important French market, says Mark van der Elst, Managing Director at Tele Radio France.
In September, Allgon announced that Tele Radio will establish subsidiaries in Russia and Brazil. With the new French company, Tele Radio now has subsidiaries in 18 countries.
- When we acquired Tele Radio just over a year ago, their model for growth and international expansion was an important puzzle piece in Allgon's growth strategy and clear focus on industrial radio control. The latest establishments in France, Russia and Brazil are all examples of when this model is put into practice. Europe is an important market for Allgon and with our own subsidiary in France we further improve our opportunities for continued growth, says Johan Hårdén, CEO of Allgon.
For more information, contact:
Johan Hårdén, CEO Allgon
johan.harden@allgon.se
+46 73-385 92 19
Ola Samelius, CEO Tele Radio, vice CEO Allgon
ola.samelius@allgon.se
+46 70-884 69 01
About Allgon
Allgon is a world leading company within the area of industrial radio remote control. We develop systems and products with a wide usage in industrial applications for customers in Europe, USA and Asia. The customer base is within areas such as mobile, transport, construction and the TMT sectors. Allgon has around 360 employees in 18 countries. Radio remote control systems is the mainstay of Allgons turnover through the subsidiaries Tele Radio and Åkerströms, two companies that complement each other. Åkerströms focuses on heavy industry with high demands on flexibility, safety and longevity in mainly Sweden markets, while Tele Radio offers a broader range of systems world-wide. Allgon also owns companies within connectivity. The company is headquartered in Kista, Stockholm and is listed on Nasdaq First North Stockholm (ALLG B) with FNCA, +46(0)8-528 00 399 info@fnca.se, as certified advisor.
[1] According to IMF estimations for 2019, www.imf.org
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