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| North American firm selects HK as international sourcing base ( 08/11/2004 ) | |||||||||
The new office is responsible for managing all the procurement activities in the Asia-Pacific region for Broan-NuTone's headquarters in the U.S., as well as overseeing quality control and assurance functions. The Group President & CEO of Broan-NuTone Group, David Pringle, said the company considers Hong Kong as the ideal location to manage and implement its international procurement activities. "In order to respond to the ever-changing needs of home owners, Broan-NuTone has made a commitment to investing in additional facilities, processes and equipment. We realised that it was essential to be able to reach major manufacturing bases and suppliers all around the world. Therefore, we decided to set up an international procurement office in a strategic location - Hong Kong. Regional operating centre "With our base in Hong Kong, executives can easily access all major markets in the region. The proximity to the Chinese mainland also allows sourcing offices to stay close to one of the largest manufacturing bases in the world. It was a natural choice to make," said Mr Pringle. "Hong Kong is the city where Broan-NuTone sets to take flight in Asia-Pacific. The city's many advantages, including its lower tax regime, business-friendly environment, large talent pool, excellent logistics and transportation network, allow us great flexibility in operating our businesses here and to quickly react to the market situation. The Common Law jurisdiction prevailing in Hong Kong also assures us of a safer commercial environment," added Mr Pringle. The company plans to upgrade its operations here to the regional operating centre in Asia-Pacific for the Group. Broan-NuTone is currently undergoing an investment plan looking at the possibility of establishing a production plant in the mainland increasing the importance of the Hong Kong office to the business expansion of the company. Headquartered in Hartford, Wisconsin, the Broan-NuTone Group is North America's largest producer of residential ventilation products. Its products range from range hoods and exhaust fans to indoor air quality products. The Group employs over 3,200 people in six countries on three continents. The Associate Director-General of Investment Promotion at Invest Hong Kong, Simon Galpin, said Hong Kong is the trading and procurement capital of Asia. "We have a high concentration of skills and talent in Hong Kong, making our city one of the most efficient and effective places to conduct sourcing activities for international businesses," added Mr Galpin. Related link | |||||||||
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