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Robit gains foothold in Asia

Robit gains foothold in Asia

On May 16, Robit Rocktools signed a share purchase agreement with South Korean drilling tool manufacturer Young Poong CND Co.

Jussi Rautiainen, CEO of Robit, said: “This process was started back in 2009, when we signed a letter of intent.

“The recession and extensive investments in our Tampere factory delayed the process somewhat, but as the common goal was clear to both parties we were able to finalise this deal. We are truly excited and eager to move forward with our plans.”

Robit believes that through cooperation with local manufacturers, it will be able to expand its product range and diversify its customer base.

A local presence in the region will also enable the company to offer substantially shorter lead times for orders and more competitive pricing for customers.

Robit’s staff will increase to more than 70, and annual turnover is expected to top €25million.

Mr Duk Young Lee, CEO of Young Poong, said: “We are so proud to be in partnership with Robit, and have no doubt that this co-operation will lead to a tremendous achievement in the global market.”

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