The HMY Group increase to 70% its shares of the chinese market leader in shopfitting
The HMY Group, an international leader in the design and manufacture of equipment for commercial retail spaces, has acquired a 70 % stake holding of a leading Chinese company. This acquisition reinforces the confidence that HMY shareholders have in the future of the Group and its strategic plan to continue its growth and expansion.
(Monéteau, 18/6/12) The HMY Group, which is the leading supplier of shopfitting and commercial retail equipment on an international basis, has confirmed the integration of the number one retail equipment supplier in China within its organization. This integration has been subject to a plan that concluded this Monday, June 18th, where the HMY Group acquired a 70% stake holding of Yongguan. This move establishes the HMY Group strongly in the Asian market where in addition to its two major production plants in China, also participates in another three factories in Malaysia, through a Joint venture with HUB's which is located in Singapore.
Discussions over the acquisition of Yongguan, which have now concluded, started in 2005. In 2007 HMY acquired 40% of Yongguan and both parties agreed a timetable for the project of integration of the company within the Group in the medium term. The achievement of the objectives set for the following 5 years has resulted in a business agreement of joint investment in the long term.This acquisition reinforces the confidence of HMY shareholders have in the future of the Group and its strategic plan to continue its growth and expansion.
Yongguan is the Asian leader in commercial equipment for the retail market. The Chinese business group was founded in 1988, and since then has experienced a constant evolution, closing the year 2011 with a turnover of 63 million euros and a workforce of 1,500 employees.
HMY, world leader in Shopfitting
HMY is the world leader in design and manufacture of equipment for commercial spaces by turnover, industrial capacity and geographical location. The Group was created in 1998 when the Spanish Yudigar - headquartered in Cariñena (Zaragoza) - was acquired by the French HERMES METAL - located in Monéteau (France), where the Group is headquartered. The group is present in 54 countries across the five continents.
The HMY Group, which employs more than 3,000 people closed the financial year 2011 with a turnover of 422 million EUR. In the past year, the group manufactured and installed enough products every day, to cover a commercial area of 27,000 sqm. Leading customers include Carrefour, Leroy Merlin, Casino, Dia, Mercadona, Auchan/Alcampo, Tesco and several flags of the Inditex Group.
The products and the quality of the services offered by both HMY and Yongguan enjoy a great reputation within the market at international level. With an accumulated experience of 50 and 20 years respectively, HMY and Yongguan have a strong capability and proven capacity to deliver large-scale projects. Both companies also have a high capability within the field of R&D as well as deploying the most advanced manufacturing technologies.
This new business operation consolidates HMY as the supplier of preference for the supply of equipment and support services for retail premises and stores tailored to the specific needs of each of its customers.
Expansion of the HMY Group
The HMY Group was constituted in mid-1998 when the French company HERMES METAL - established in 1960 - acquired the Spanish company Yudigar - created in 1978 -. Both companies are dedicated to shopfitting and shopfitting equipment supply in all sectors of the commercial market. Both companies were leaders in their local markets and through a harmonized integration have been able to set a strategy of growth both in domestic and international markets together.
The HERMES METAL group already incorporated several companies of French origin (ARM, VANNIER and CEP) at the time of the acquisition of Yudigar all of which had complementary core business activities. In 1999 we saw further development with HMY Brazil and Teknogon based in Istanbul, reinforcing the Group internationally to add Latin America and Western Asia to its area of activity.
In 2006 Radford in the Great Britain and Pomar and Tecam in Spain were also incorporated. In this way, the HMY Group happens to occupy a strong position in the market of the United Kingdom through Radford, and through Pomar and Tecam adds an important element of know-how in the installation of premium commercial retail spaces, based on the high quality wood finishing used by top fashion brands.
During 2007 HMY develops its ties in Asia through involvement with a company of Chinese origin, Yongguan, acquiring a 40% stake holding of this business and agreeing a staged purchase commitment, which has materialized this week. Asian investment was expanded further in 2009, when HMY acquired 15% of HUB's, based in Singapore.
The current HMY Group has been built on the union of the experience and know-how of a set of different companies, which gives as a result the creation of multiple synergies and a strong international presence, which has carried HMY to become the recognized worldwide leader of the commercial equipment.
Brands and production plants in the world HMY HERMES-METAL 57.000 sqm (FRANCE) HMY Yudigar 42.000 sqm (SPAIN) HMY ARM 28.000 sqm (FRANCE) HMY Radford 18.000 sqm (UK) HMY Teknogon 33.000 sqm (TURKEY) HMY Brasil 10.500 sqm (BRAZIL) HMY Yongguan Chengdu 50.000 sqm (CHINA) HMY Yongguan Shanghai 60.000 sqm (CHINA) HUB´S 10.500 sqm (SINGAPORE)
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