Walton targets market expansion of local electronic products in Europe

Walton targets market expansion of local electronic products in Europe

Business News & Event World

After securing the top place in local market of electronic products, Walton, the country’s leading vertically integrated manufacturer, targets to strengthen its position in international market. To achieve the target, the Bangladeshi brand is exporting its electronic products to more than twenty countries of Asia, Middle-East and African territory. However, Walton now eyes to expand its market in European countries for which it has taken massive initiatives. The local company opened its offices in various countries including Germany and United Kingdom along with showcasing its products and service in international trade fairs.

In its latest initiative of targeting the European market expansion, Walton took part in Chillventa International Trade Fair in Germany which was held from 16 to 18 October at Nuremberg Exhibition Centre where manufacturers of refrigerator, air conditioner, ventilation and heat pumps around the world showcased their products and services.

First organized under the name of ‘Chillventa’ in 2008, the fair is now one of the most important events and is held in every two years. 981 exhibitors showcased their products in the last season the event in 2016. 63% of the exhibition visitors came from European Union, 17% from the rest of Europe, 15% from Australia, Asia and Africa, and 6% from America. 93% of the exhibitors made new business connections. Walton is the first and sole Bangladeshi company to join the fair.

According to Walton authorities, they were allocated a stall at hall number 7 in Chillventa Fair where various types of refrigerator, AC parts and industrial solutions including compressors, PET belt, Magnetic Stripes, Door Switch, LED lights, Power Cable, Fin type Evaporator, Wire type Evaporator, Lock & key, Accumulator, MS Tube, Filter Drier, Self-tapping Screw, Machine Screw, Bolt, Hexagonal Nut, Metal Casting etc. were showcased.

Many entrepreneurs from European Union and other countries visited Walton stall.

Imtiaz Ahmed, Bangladesh’s ambassador to Germany and Dr. Syed Masum Ahmed Choudhury, Commercial Counsellor, Bangladesh Embassy in Germany visited Walton stall in Chillventa Fair on its opening day. They welcomed Walton in European market and praised the Bangladeshi company for manufacturing and exporting high standard technology products and parts.

Abdur Rouf, Business Head (Developed Countries) of Walton International Business Unit, said, refrigeration and air conditioner parts have huge demand in European market as most of the European brands do not manufacture any parts but assemble them after buying bulk amount from different OEMs across the globe. To grab this huge market of spare parts, Walton took part in Chillventa Fair.

He also said that Walton is now manufacturing raw materials and chemicals of various electronic products. International standard eco-friendly energy efficient compressors are being manufactured at Walton Compressor Plant in Chandra of Gazipur. These compressors and spare parts are being exported to different countries after meeting local demand.

Ashraful Ambia, Chief Executive Office of Walton Refrigerator, Air-conditioner and Compressor, said: Walton Compressors are being manufactured maintaining hundred percent European standard as European machineries and technology are used in Walton factory. As a result, Walton compressors and their parts have huge demand in European market and to capture that demand Walton has taken various initiatives. He said, Walton has set up its office in Stuttgart of Germany along with offices in other countries including United Kingdom, China and Thailand.

Uday Hakim, Deputy Executive Director of Walton, said, ‘Made in Bangladesh’ in electronic products was a dream which Walton has successfully made true. Various Walton products and their spare parts are being exported to many countries which earns huge foreign currency along with branding Bangladesh in international arena. Now our target is to expand market in developed countries including Europe and America. According to him, Bangladesh will soon become the hub of technology products and Chillventa Fair will play vital role in this regard.

Visit: Walton

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