Bangkok--19 Jul--Public Relations & Media Consultant
- One is for the “Massey Ferguson” brand from the US and the other is for the “Kioti’ brand from South Korea
- These two distributorships will help overcome the loss of the distributorship for the “New Holland” brand which terminates in September 2011
- The Group intends to invest and expand its network in Thailand to build market share for these two brands
Hup Soon Global Corporation Limited (“Hup Soon Global” or the “Group”), a leading marketer and distributor of industrial and agricultural equipment, automotive/industrial supplies and manufacturer of automotive batteries in Southeast Asia, has secured distributorship for two established brands of agricultural tractors for Thailand.
The two new tractor brands are “Massey Ferguson”, one of the four core brands owned by AGCO of the US and “Kioti”, the export brand of Daedong Industrial Co., Ltd of South Korea.
These two new distributorships will help to overcome the loss of the Group’s long-held distribution business for the “New Holland” brand of agricultural equipment which terminates in September this year.
“We mentioned in March when we announced the loss of the “New Holland” business that we will plug the gap, secure not one brand but multiple brands and build new relationships that will not only compensate for the loss but surpass it. We have now delivered on our promise,” said Mr Phillip Eng, executive deputy chairman of Hup Soon Global.
“Just as we have made “New Holland” a premium brand in Thailand through our network, market knowledge and efforts, we intend to commit our resources and expertise to build these two distributorships into major brands in Thailand,” said an ebullient Mr Eng.
Indeed, Hup Soon Global will now have a far better penetration of the market with these two products — “Massey Ferguson” for the higher horse power range market and both “Massey Ferguson” and “Kioti” for the wider lower horse power range market.
Anglo-Thai Co Ltd (“ATC”), its wholly-owned Thailand subsidiary which handles the agricultural equipment business in Thailand, is all geared up to hit the ground running and commence selling the new products as early as October 2011 which coincides with the start of the sugarcane planting season in Thailand.
In addition to representing the “Kioti” brand products in Thailand, ATC will also be able to sell “Kioti” tractors in Cambodia, Myanmar and Laos.
“We are extremely excited with the prospects for these two new brands. We intend to compete head-on in the market by offering attractive pricing backed by a wide network and quality after-sales service,” said Mr Eng.
Commenting on the partnership, Mr Alex Baker, Manager — Far East of AGCO International, “Massey Ferguson was once a leading brand in Thailand although in recent years we’ve not achieved the market exposure and position our Massey Ferguson product deserves. Now we are back! In this important market with our recently appointed and very well-established distributor, Anglo-Thai, whom we believe with their strong network and aggressive marketing efforts, will propel Massey Ferguson to once again be in a leading position throughout Thailand.”
“This is part of our new Asian initiative. The region is increasingly becoming important for AGCO, not only as a market but also a production base - we are rolling out new products from India as well as opening tractor and other plants in China, the largest being the tractor plants which will be capable of producing in excess of 25,000 units a year,” added Mr Baker.
“Daedong already has a strong presence in the US and Korean markets. We are now growing our presence in Asia and Thailand with its vast agriculture industry is an important market in Asia. As this is a new market for us, we are thrilled to be working with an established partner such as Anglo-Thai to build our brand in Thailand and other parts of Asia,” said Mr Dong Hoon Kim, Director — Head of Overseas Business Division of Daedong Industrial Co. Ltd.
On Massey Ferguson
Massey Ferguson, with more than 160 years of innovation and experience, is one of the world’s leading tractor brands, offering one of the most complete lines of agricultural tractors in the industry. Massey Ferguson is a global brand recognised around the world not only for its heritage and experience, but also for its technological leadership and comprehensive product range. Massey Ferguson tractors are currently manufactured in nine different plants around the world and are sold in more than 140 countries.
On Kioti
Daedong Industrial Co. Ltd., located in Daegu, South Korea, has been a world leader in the engineering and development of mechanised farming for more than 50 years. Daedong’s responsiveness to complex market challenges, manufacturing excellence, and commitment to durable, high quality products have resulted in the acceptance of Daedong products in more than 30 global markets.
About Hup Soon Global Corporation Ltd (www.hupsoon.com)
Hup Soon Global Corporation Limited is a leading marketing and distribution company for automotive/ industrial consumerables, agriculture and material handling equipment and manufacturer of automotive batteries in South East Asia through its “Borneo Technical”, “Anglo-Thai”, “Kwikpart”, “FactoryPro”, “United Motor Works (Siam)”, “Nichiyu” and “Yokohama” trade names. Listed on the SGX Catalist, it represents more than 100 leading brands, primarily in Thailand and Malaysia.
CONTACT INFORMATION
Hup Soon Global Corporation Limited
Tel: +65 6733 9339
Peter LEE,
[email protected]
Distributed on behalf of: Hup Soon Global Corporation Limited
By: Suthi Chatterjee
Public Relations & Media Consultant Co., Ltd.
Tel: (662) 247-6533; Email:
[email protected]