Portuguese tool factory wants to export to China and open offices in India

14 August 2007

Lisbon, Portugal, 14 Aug – Portuguese tool manufacturer Palbit plans to start exporting its products to China at the end of 2007 and to open an office in India in 2008, the company’s sales director, Jorge Ferreira said.

In relation to China Palbit also plans to open up an office in the next two years in Shanghai, China’s financial capital.

“First we want to set up our distribution network and, if it seems necessary, we will then open up an office to provide technical assistance, establish stocks and ensure the correct application of our products in the Chinese market,” he said.

Ferreira said that, “Palbit already exports to India, but now wants to open up a subsidiary, Palbit India, in 2008, and to reorganize its distribution and retail network in the country.”

In the case of small and medium-sized companies, Palbit India will operate using local distributors and retailers, whilst it will work directly with larger companies.

“The aim of being in India, as well as in China, is related to the need to sell tools of high added value and solutions that do not exist in these markets,” Ferreira said.

Currently, Palbit sells 90 percent of its production to around 60 countries, particularly in Europe, but is focusing on growth in Latin America and other developing countries, and has offices in Brazil, Argentina and India, and soon in Mexico.

Created in 1910, Palbit, which employs 175 workers in two units, in the 1950s began producing tools for the moulding, automotive and aerospace industries. (macauhub)