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Columbia Sportswear Company And Swire Pacific Limited's Subsidiary To Form Joint Venture In China

Tuesday, 7 Aug 2012 10:00pm EDT 

Columbia Sportswear Company announced that it has entered into an agreement to form a joint venture with Swire Resources Ltd. designed to expand the position of the Company’s Columbia brand and to further establish and grow the Mountain Hardwear brand in China. Swire Resources Ltd., a subsidiary of Swire Pacific Limited, has operated as Columbia Sportswear’s exclusive independent distributor of Columbia and Mountain Hardwear branded products in China since 2004, and in Hong Kong and Macau since 2002. The new joint venture is expected to begin operations January 1, 2014 with headquarters in Shanghai. Columbia will own 60% of the JV; Swire will own 40%, with profits and losses shared in similar proportions. The joint venture carries an initial term of 20 years and includes a provision for the purchase or sale of the minority interest any time after the fifth year. 

Company Quote

-7.47 -8.97%
25 Jul 2014