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[March 2002]
Tyrolit Challenges the East
Tyrolit (Milan, Italy) - a world leading company in the production and distribution of diamond tools - is continuing its expansion and has established a new company in the heart of PR China, Tyrolit Suzhou Superabrasives Tools Co Ltd.The creation of Tyrolit Suzhou reflects the Tyrolit Group's strong commitment towards investing in a country which has enormous potential for growth and represents the company's natural evolution in its 'Local Worldwide' strategy, whereby it operates at a local level through the knowledge of the specific characteristics of each country, to offer the rapid support and assistance of its best engineers. After opening branches in Indonesia, Thailand and Dubai, Tyrolit is now 'landing' in China, a market with one of the fastest rates of growth in the world.
Tyrolit Suzhou is based in Suzhou, an ancient and flourishing city 80 kilometres east of Shanghai. It is sited in the Suzhou Industrial Park, already home to other major multinationals. The choice was deliberate - Shanghai is one of the most economically, financially and commercially developed cities in China, as well as being one of the most important districts for the company's key markets of ceramics and stone products.
The Tyrolit Group - which is entirely controlled by the Swarovski Group - closed 2001 with sales totalling 474 million euro. Consolidated sales of the group include sales by Tyrolit Vincent (Thiene, VI, Italy), world headquarters of the Dimensional Stone & Glass Division, which had sales in 2001 of 75 million euro, a year-on-year growth of 8%.
ENDS