September 19, 2007—Steelcase Inc., a global office environments manufacturer, has announced the pending acquisition of one of the leading office furniture manufacturers in China. The transaction will significantly increase Steelcase’s ability to serve customers in the Asia Pacific region.
The acquisition will add over 1,000 people to Steelcase’s operations in China, from a factory in the Guangdong province and showroom/sales offices in Hong Kong, Beijing, Shanghai, and Guangzhou. After the transaction is closed, Ultra will continue to operate as an independent organization and brand in Greater China and the Asia Pacific region, and Ultra’s current chairperson, Wendy Cho, and her existing management team will continue to lead the organization as it becomes part of Steelcase’s Asia Pacific operations.
This acquisition, according to Steelcase, will not only increase its scale of operations and market share in Greater China, but will also provide broader capabilities in distribution, product portfolio, and manufacturing to support the expansion plans of its customers throughout Asia.
For more information visit the Steelcase Web site.
