Joint-Venture of Shimano Inc. and Rapala VMC to develop russian and Ukraine market
October 11, 2007
In order to enlarge the fishing business in Russia and the Ukraine, Shimano will establish a joint sales company together with Rapala VMC dedicated for those markets.
Rapala, with its headquarters in Helsinki, is a leading producer of fishing lures. Beside those products they sell knives and other fishing related products in 29 own subsidiaries, and the products are available in around 140 countries worldwide.
In Europe Rapala has been distributing Shimano fishing equipment already in more than 12 countries and even in South Africa you can find them as distributor of Shimano fishing tackle.
In Russia Shimano as well as Rapala had their own sales company, so it makes sense to consider a further step of cooperation in where these two companies consolidate their forces and work for the joint market development and in order to increase the presence of both brands in these fast growing markets.
So far Shimano Eurasia located in Moscow did represent Shimano in fishing and bicycle business, and the Rapala subsidy under the name of Normark Russia is distributing their fishing products through 6 warehouse-locations spread over the whole country.
The new joint set-up will work for Fishing products in Russia and the Ukraine, while the bicycle products are only distributed in the Russian territory.
In order to create as well a financial cooperation, Shimano will subscribe to a share package with a value of 5 million Euros in Rapala VMC to back up the new joint company.
In line with that co-operation Shimano Eurasia will stop it’s activity by End of November 2007, and the full business operations will be taken over & continued in Normark Russia starting from Begin of December 2007.
In case you have any questions to the above, please contact
In relation to Fishing business
Mr. Vitali Firsov Shimano Eurasia vfi@shimano-eu.com Tel ++7-495-789-95-75 (ext:115) Mob ++7-916-903-4834
