Tarkett accelerates its development in China
Paris, April 19, 2011 - Tarkett, a worldwide leader in innovative flooring and sports surface solutions, is accelerating its development in China through the creation of a joint venture.
Tarkett announced on April 19 a new joint venture in Hong Kong with 70% ownership. Following the joint venture, a distribution company will be established in Shanghai to accelerate Tarkett’s sales growth in China.
“This is another step to enable us to develop our sales in China. Tarkett already has an excellent brand reputation in flooring for the health and education sectors in China and a strong growth potential said Michel Giannuzzi, CEO of the Tarkett Group.
The Shanghai distribution company aims to achieve revenues of €30 million within three years. It has plans to develop regional sales teams to cover all of China. Currently, Tarkett sales in China are primarily in vinyl resilient flooring. Tarkett has been working in China since 2000 and benefits from its expertise gained in health and education projects. The Group seeks to strengthen its position in the resilient flooring market and to broaden its product offering in China.
Tarkett is pursuing its development strategy in emerging countries. In 2002 it began its expansion in Eastern Europe with the acquisition of Sintelon in Serbia. In 2009, Tarkett acquired Fademac, the resilient flooring market leader in Brazil, in order to develop in South America. In 2010, the sales of the Group in emerging countries increased by 24% (vs. 2009), at constant perimeter and exchange rates, representing 34% of the Tarkett’s consolidated revenues.