Ad
Ad
Ad
© maksim pasko dreamstime.com Electronics Production | October 27, 2015

Foxconn invests in Bamboo Distribution

A subsidiary of Foxconn Technology Group has acquired 20% of Bamboo Distribution, a UK-based mobile phone recovery, recycling and distribution specialist.
Foxconn’s decision to invest in the company is based on a number of factors, including Bamboo Distribution’s compliance with environmental and data protection regulations, the company’s current and projected growth expectations, its operational capabilities and specialist knowledge of the mobile buy-back, reconditioning, distribution and recycling sectors.

Juney Mistiki, Managing Director of Bamboo Distribution said, “This is an exciting time for us and a clear endorsement for our company. Foxconn recognised the value we are already providing our customers. Following extensive talks with Foxconn, we demonstrated why we were the right choice to help drive its expansion into Europe. Of course, this is a two-way agreement; our customers will immediately benefit from the direct access we now have to one of the most successful electronics manufacturing companies in the world.”

Foxconn’s investment in Bamboo Distribution follows previous partnership between the two companies designed to strengthen Foxconn’s position within the European market and open new revenue channels. Central to this agreement will be a new co-founded distribution centre providing services in the UK and Europe, which will increase Bamboo distribution’s processing, fulfillment and distribution capacity.

As part of the acquisition US based Paul Chou, Vice President of Foxconn, joins Bamboo Distribution’s board of directors. Paul has been part of Foxconn for over 13 years, helping to set up and manage operations globally to support the expansion of various Foxconn businesses.

Paul Chou said, “Bamboo Distribution offered us the ideal gateway to the European market, the company was a natural fit. It was clear from our discussions that the company’s customers have complete confidence in Bamboo Distribution’s services and its operations contain the capacity required to take advantage of the growth predicted in the sector. Our investment will enable us to gain a strong foothold in Europe through an established provider that is well respected in the industry.”

Comments

Please note the following: Critical comments are allowed and even encouraged. Discussions are welcome. Verbal abuse, insults and racist / homophobic remarks are not. Such comments will be removed.
Further details can be found here.
Ad
Ad
Load more news