HLS Systems International has begun its expansion outside of China by agreeing to acquire a technology products sales and marketing company based in Singapore at net asset value.
This acquisition is subject to approval by HLS' Board of Directors, and the company is owned by Yau Kiam Fee, a director of HLS and former general manager of General Electric's industrial control operations in Asia. The company currently employs six sales professionals with experience in the selling of products such as HLS' automation systems, and expects to hire additional staff in the coming months.
The office where this company is based will be transformed into HLS' new regional headquarters and focus on business opportunities in the Asia Pacific region outside of China, initially selling and marketing HollySys' products and services. In 2008, the company plans to expand its operations to encompass product assembly and take advantage of various subsidies available from the Singapore government for high tech companies assembling product in Singapore.