Allison Expands into China, Middle East and Australia

Allison of It holding is preparing a program for expansion into China and seeks a local partner in a joint venture for the distribution all the Group's brands.

This is what Silvio Vecellio Reane, Allison's president and CEO, stated at MFF: "the Chinese market is becoming increasingly important' he explained 'and we already have a presence there, but we want to set up an organization that will develop its potential at the level of sales. Negotiations are already underway and we plan to start in 2004, at the latest".

Allison, which recently opened a new facility in Padua, is also looking at the Middle East through the creation of Addison Middle East, and Australia, where Addison Australia will be opened between end 2002 and spring 2003. It also intends to increase its Allison Usa business.

With expectations that 2002 will close with a turnover of 64-65 million euros (up 33% compared to 2001), the company's target for the future is two new licenses, one foreign and one Italian, due to arrive before the end of the year, and one for Genium, the new extra-lightweight material that outperforms titanium for which Allison and Luxottica have the exclusive.

(Source: MF fashion)