Sonepar strengthens its partnership with KVC22.01.13
The partnership between KVC and Sonepar started in 2008, and has continued to blossom in so many ways since then.
Today the KVC group consists of more than 15 companies, all specializing in the distribution of electrical and communication products, and has sales of almost double what it was in 2008. It is the market leader in Malaysia and has operations throughout South-East Asia (SEA*) in Thailand, Singapore and Indonesia.
As a natural evolution of the partnership, both parties agreed that in 2012, Sonepar would have the opportunity to acquire an additional 14% of the shares of KVC, giving each party a 50% stake with Sonepar having the controlling interest. This will enable Sonepar, KVC and its associated companies to continue to grow at what is hoped to be an even faster rate.
In 2012 the addition of DEP in Thailand and Seewide PJ and Elecplus in Malaysia to the group, further consolidated their position in this market.
Sonepar has long seen South-East Asia as a critical area for growth and now has a market leading position in Malaysia and Thailand with nearly 1 000 associates in 2012.
This latest developments show the continued commitment of Sonepar to invest in Asia Pacific, a region long identified as a strategic emerging area by the group, and the confidence shown by KVC management in our shared future growth.
* Outside: India, Greater China, Australia and New Zealand.
Sonepar is an independent French family-owned company with global market leadership in B to B distribution of electrical products and related solutions. Founded in 1969, Sonepar employs 33,000 associates at 160 entities in 36 countries. Revenue totaled €14.7 billion in 2011.