Cardo expands in China
Cardo expands in China Cardo's business area Cardo Door is extending its operations in China by establishing a wholly owned subsidiary in Kunshan near Shanghai. The company, with initially about 30 employees, will be responsible for both local assembly and marketing of Cardo Door's range of products. The new company, Crawford Door (Kunshan) Ltd, will be responsible for assembly and sales of industrial doors and dock loading products, i.e. dock levelers, shelters and load houses, as well as of residential garage doors. Sales offices are being opened at the same time in Beijing and Shanghai and will be complemented by local and regional distributors. The president of the company will be Cardo Door's Asia head Royne Kristensson. In 1997, Cardo Door formed a majority-owned joint-venture company together with Shenyang Liming Aluminum Doors and Windows in the northeastern province of Shenyang. This operation, which so far is of limited extent, relates to the assembly and marketing of doors mainly in the provinces of Heilongjiang, Jilin and Liaoning. The establishment of the new company in the Shanghai area, where extensive local and international investment is occurring, is part of Cardo Door's ongoing investment in the large Chinese market. Cardo Door, which has a turnover of more than SEK 4 billion, is a business area in the Cardo group and Europe's leading player in the manufacture and service of industrial doors and dock loading equipment and one of its largest manufacturers of residential garage doors. The major brand names for industrial doors and dock loading equipment are Crawford, Clever, Hafa, Faltec, Alsta and Allhabo. Residential garage doors are marketed under the brand names Normstahl, Crawford and Car-In. Malmö, Sweden, November 22 1999 Cardo AB (publ) For further information, please contact: Kjell Svensson, President and CEO, phone +46 40 35 04 53, +46 40 35 04 00 Christer Roskvist, Head of Public Relations, phone +46 40 35 04 25, +46 40 35 04 00 Cardo is an international engineering group with a turnover of more than SEK 9 billion. Cardo holds a strong position in the markets for doors, pumps and rail-vehicle brake systems. Cardo has subsidiaries in about 30 countries with the focal point resting in western Europe, and roughly 7,400 employees. ------------------------------------------------------------ Please visit http://www.bit.se for further information The following files are available for download: http://www.bit.se/bitonline/1999/11/22/19991122BIT00380/bit0001.doc http://www.bit.se/bitonline/1999/11/22/19991122BIT00380/bit0002.pdf