Press > May 2010
Press Information
suki.international has a new shareholder
Landscheid, May 5, 2010. The shareholders of the suki.international group have sold their shares to Illinois Tool Works Inc., Glenview/ USA, effective May 4, 2010. As an internationally operating group of companies, ITW can look back upon almost 100 years of history. In 2009, a staff of about 59,000 in their ca. 840 decentralised business units in 57 countries yielded a turnover of US$14bn. The acquisition will, for one thing, strengthen the suki.international Group’s market position and, for another, set the course for an expansion of the European retail segment of the ITW group.
Strengthening the internationalisation
After the acquisition by ITW the suki.international group will remain an autonomous corporation, based at Landscheid. It will use the proven success of ITW’s decentralized organisation to create important synergies with other companies in the group. Within the framework of a long-term strategy, the suki.international group will form the foundation stone for the European retail segment currently being established by ITW. The competitive environment and market position of the suki.international group, which is already generating more than 50% of its turnover in European countries outside of Germany, will be greatly strengthened. The acquisition by ITW means a sustainable continuation of suki.international’s own successful international strategy within a powerful corporate group.
suki stays suki.
Over the past few years, the suki.international group has successfully expanded its Europe wide market position and despite the economic crisis in 2009 at € 126m yielded the highest turnover in its history. The suki.international group will continue to run its businesses focused on the three strategic core activities, retail, logistics and direct-sourcing. The group will profit from the technological and worldwide know-how and the financial power of the international group of companies and continue its successful strategy of the past few years.
Prospects
The integration of the suki.international group strengthens ITW’s strategic position. ITW is the market leader in the DIY retail business in Australia and New Zealand. It also has similar activities in the USA. Through the acquisition of the suki.international group the opportunity has been created to offer technical products to the entire European retail market. Therefore suki.international group offers ITW outstanding possibilities for development and enormous prospects.
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