HOSHIZAKI CORPORATION announces that at its meeting of the Board of Directors held on April 11, 2024, the Company has resolved to acquire all shares of TECHNOLUX EQUIPMENT AND SUPPLY CORPORATION and a controlling interest in HKR EQUIPMENT CORPORATION, an importer and distributor of food service equipment in the Republic of the Philippines through HOSHIZAKI SOUTHEAST ASIA HOLDINGS PTE. LTD., a subsidiary of the Company, which makes TECHNOLUX and HKR a subsidiary of HOSHIZAKI.
HOSHIZAKI, in an effort to increase its sales and presence overseas, key markets for the company's future business growth, is concentrating on expanding its business in the Southeast Asia region, including the Philippines, where markets have high growth potential.
TECHNOLUX and HKR are the largest catering equipment importing and trading companies in the Philippines, well known in the market for their years of experience in supplying a wide range of products from leading global brands to various prestigious local chain hotels and restaurants, as well as good quality. after-sales service.
The addition of TECHNOLUX and HKR as a new member of the HOSHIZAKI group, along with their experienced management team, will enable the company to accelerate market penetration in the Philippines and other Southeast Asian countries, more effectively promoting business expansion not only through HOSHIZAKI products, but also to existing customers as well as range of equipment supplied by TECHNOLUX and HKR to potential new customers throughout the region.
HOSHIZAKI acquires 100% of the outstanding shares of TECHNOLUX and 80% of the outstanding shares of HKR, respectively, through HOSHIZAKI SOUTHEAST ASIA HOLDINGS PTE. LTD., a 100% subsidiary of the Company.
