Toya – one of the leading Polish producers and distributors of hand and power tools – signed an agreement in mid-July under which the company becomes the sole owner of Yato Tools from Shanghai.
‘We overcame cultural barriers, learnt the specificity of the Chinese market and we have strong support which allows further expansion and development for our company.’ – claim representatives of the Wroclaw company.
The Chinese company Yato Tools distributes tools made by YATO. Its product line includes general purpose tools as well as instruments for specialized purposes.
In 2008 Toya, along with Saame Tools – a company from Shanghai – established the joint venture Yato China Trading Co. Ltd. The Wroclaw company acquired 51% of its shares. The rest still belonged to the Chinese partner.
In January 2013 Toya increased its capital in the Chinese company. As a result of this transaction, the company’s share increased from 51% to 75%. In April 2013 the partnership changed its name to Yato Tools, and in March 2014 the Chinese company opened its new headquarters in Shanghai.
‘Step by step, consciously and consistently, we have built the YATO brand and products on the global market. We were aware how difficult it is to create a bridge linking the western business and culture with the oriental one. Therefore, looking back, I can say that we passed the exam with honors. The cooperation with our Chinese partner is absolutely satisfying, and our financial results allow us to look into the future with optimism.’ – highlights Dariusz Hajek, Vice-President of TOYA Management Board.
Through China to the world
Representatives of the Wroclaw company explain that the presence of the Chinese partner allows for more effective negotiations with distributors from other Asian, as well as African, South and Central American countries. It also guarantees direct export and a large logistics background.
‘Our activities bring tangible benefits to our customers because, as a manufacturer of tools, Toya can focus on the introduction of new product solutions and offer, not only domestic customers but also those all over the world, more high quality products with modern design and for an affordable price.’ – adds Hajek.
In turn, representatives of the Chinese company ensure that YATO products perfectly fit the needs of Chinese consumers, as well as those from other Asian, South American and Australian countries.
‘Due to the consistent increase and improvement in our product palette, we adjust logistical tools to promote and sell YATO tools effectively. We increase sales, develop distribution networks, and, what is more, YATO products are highly regarded on the market.’ – explains Su Gang, general manager of YATO China Trading.
Toya S.A. was established in 1990. Over almost 25 years this Wroclaw company has transformed into a leading player on the international scale. Polish investors hold a large majority of its shares. Toya exports its tools to more than 70 countries around the world. In 2011 the company made its debut on the Stock Exchange in Warsaw.