Calmark reconsiders its China strategy to focus on distributor cooperation
Calmark Sweden AB (publ) today announces a rethinking of the China strategy, in view of the current global context and the growing politicization of the Chinese business environment. The Wuxi subsidiary, which was foreseen to serve as the basis of a Joint Venture, will be dissolved; as in the rest of the world, the sales strategy in China will instead be based on distributor cooperation. Calmark’s subsidiary in Hong Kong will remain, henceforth forming the hub of the Chinese market activities.
International investments in China are decreasing in favour of markets such as for example India and Vietnam. Like many other companies, Calmark is now reconsidering its planned investments in China.
Every care has been taken in the translation of this document. In the event of discrepancies, the Swedish original will supersede the English translation.
This disclosure contains information that Calmark Sweden AB is obliged to make public pursuant to the EU Market Abuse Regulation (EU nr 596/2014). The information was submitted for publication, through the agency of the contact person, on 20-01-2023 09:00 CET.
