Beijing, China, 12 April – Portuguese company Palbit, a tools manufacturer, wants to start exporting to China before the end of 2007 and is already in the process of organizing a regional distribution chain in the country, a company official said in Beijing Wednesday.
Palbit’s strategy for entering the Chinese market is to “present tools of high added value and solutions that do not exist on the market,” the company’s commercial director Jorge Ferreira told Portuguese news agency Lusa.
The Portuguese company has no plans to open an industrial unit for manufacturing tools in China, but may consider opening an office in Shanghai, which is the company’s financial center, although this is not considered to be a priority for the company.
“First we want to establish our distribution network and if it is appropriate we will then open up a representational office to provide technical assistance, build up stocks and ensure the correct application of our products in the Chinese market,” said Ferreira.
The Portuguese company has been taking part in the 10th International Machinery and Tools Fair in Beijing since Monday, where it plans to increase its profile amongst the world tool companies present at the fair.
Palbit sells 90 percent of its production to over 60 countries, particularly in Europe, but is focusing on growth in Latin America and other developing countries, with its representational offices in Brazil, Argentina and India, soon to be followed by Mexico.
Palbit currently has two industrial units where it employs a total of 175 workers.
Set up in 1910, Palbit used to be a mining company, but in the 1950s it began producing tools for the mould, automotive and aerospace industries. (macauhub)