Date: Wednesday October 4, 2006 11:20:00 am
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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.
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