The world's leading lock maker will use the lead up to the 2008 Olympic Games
in Beijing to expand its presence locally, it has been revealed.
"We intend to be a strong partner to the Beijing Organizing Committee for the
Games of the XXIX Olympiad (BOCOG) and thus create business growth in China,"
said Bo Dankis, chief executive officer and president of the Finland-based Assa
Abloy.
Without offering specific figures, Dankis said the 2008 Games will create a
tremendous market boost for lock makers in China.
"We can see a huge market as 59 training courses, 18 new stadiums and a large
village have to be built," he said.
Dankis came to Beijing earlier this month to meet BOCOG officials, discussing
co-operative possibilities and showcasing his firm's latest locking solutions
and security concepts.
The group has opened a project office in Beijing to manage Games-related
projects.
However, Dankis' Chinese ambition goes well beyond the Olympics in the
national capital.
"China is an attractive growth market for Assa Abloy, because of upcoming
events such as the 2010 World Expo in Shanghai, the country's booming commercial
and industrial sectors, and the improving living standards of Chinese people,"
he said.
"With the huge market potentials, Assa Abloy will put more emphasis on
developing its business locally."
The firm has drawn up a rolling three-year investment plan, Dankis said,
refusing to give further details.
At present, it only has one production operation - Guli Security Products Ltd
- in the country.
"We would like to have several production companies in China in five years,"
Dankis said.
