*NEWS*O.DEPOT ACQUIRES CHINESES OP GIANT

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*NEWS*O.DEPOT ACQUIRES CHINESES OP GIANT

 user 2006-10-04 at 11:20:00 am Views: 89
  • #16580

    Depot acquires Chinese OP giant
    October
    2006 — Beijing (CHN): Office Depot has agreed to acquire a controlling
    interest in AsiaEC, one of China’s largest OP dealers.

    AsiaEC,
    which will operate under Office Depot International, is headquartered
    in Beijing and has office in Shanghai, Guangzhou and Shenzhen and
    employs 500 staff.Charles Brown, president of Office Depot
    International, said: “This acquisition gives Office Depot a significant
    presence in the fast growing Chinese market, and allows us to further
    leverage our operations in Japan and South Korea to enhance our
    competitive position within this increasingly important
    region.”Financial terms of the transaction have not been disclosed.