GLOBAL | English
PRESS RELEASE
July 23, 2007
Fujitsu General Limited
(NO.07-V01-13)
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Fujitsu General establishes a joint sales company in UK for air conditioning business |
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Fujitsu General Limited announced that the company's sales subsidiary in UK, Fujitsu General (UK) Co. Ltd. signed a joint management contract with Eurofred UK Ltd., a sales subsidiary 100%owned by Eurofred Group in Spain who is the business partner of Fujitsu General Group in Spain, on the 18th June for the establishment of Joint sales company in UK aiming to reinforce their operations of air conditioner sales and after services in UK and Ireland. The new joint sales company will start operating on the 1st of October this year
The name of company is FG Eurofred Limited. Capital of the company is GB£7,000,000.-(JPY 1.7billion) financed by two companies with 50% each.The company takes over the sole distribution right in UK and Ireland from both of Fujitsu General (UK) Co. Ltd. and Eurofred UK Limited to expand business in the territory. Its principal address is in Hertfordshire in England where Fujitsu General (U.K.) Co. Ltd. is located now, and the company will take care of sales and after services of air conditioners, spare parts, accessories and related products in U.K. and Ireland.
Eurofred S.A., the main office of Eurofred Group, of its principal address in Spain is handling import and distribution of room air conditioners, commercial lines of air conditioners, refrigerators, freezers, showcase for ice cream and cakes and so on. Especially they are enjoying top sales of air conditioning products in Spain. Fujitsu General and Eurofred Group have been building our friendly relationship in wide range through our business activities for sales and after services of air conditioners from consumer to commercial lines.
The new joint company will be serving for reinforcement of our business in U.K. and Ireland under such strong relationship as above, having advantages of qualified know-how in direct sales to installers, service facilities, etc. by Eurofred and also another know-how in distributing operation by Fujitsu General (U.K.). With this fusion of the knowledge and experiences by both companies would help the new company to utilize financial resources at maximum efficiency for their activities in catching market trend, feed it back to engineering team so as to accelerate whole activities such as development, production, sales and after services, enabling us to expand our business aggressively.
Corporate Profile of FG Europe Limited
- Company Name
- FG Eurofred Limited ("FGEF")
- Head Office
- Hertfordshire, U.K.
- Chairman
- Mr. Marc Sabe
- CEO
- Mr. Kazuo Sakakura
- Main Business
- Sales and after Service of air-conditioners, Spare Parts,, Accessories and related products in UK and Ireland
- Founded
- 1st October 2007 (Plan)
- Capital
- 7 Million British Pounds
- Fiscal Term
- 31st March, Every year
- Investment Ratio
- Fujitsu General (UK) CO., Ltd：50%
Eurofred UK Limited ：50% - Sales target
- 40,000 sets (within three year)
A background of establishment of the new joint company
The air conditioning business in Europe has been expanding year by year, and the whole demand in the calendar year of 2006 reached to 6.37million units in total (3.4% up from the last year's) Among those, the demand in UK shows drastic increase (210,000 units in total, which is 10% up to the last year's record).
Under such trend of the surge of resource and energy saving as the global environment correspondence, UK is the most potential market now and in future.
On the other hand, it is expected that the competition in the market will become harder and the strong organization is required to win the competition in the market.
Contact details
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