Kesko Oyj (HEL:KESAV) RAUTAKESKO LTD PRESS RELEASE 21.10.2008 AT 11.30 1(1)
Rautakesko acquires an ownership interest in the tooMax-x Handels GmbH company, engaged in purchasing cooperation in home building and improvement products. Thanks to the expanding international purchasing cooperation, Rautakesko will be able to provide an increasingly comprehensive and competitively-priced selection of products for the customers of its store chains.
The basic purposes of tooMax-x include the development of the members' imports from the Far East, sourcing and quality assurance, and the management of other international purchasing projects related to home building and improvement. Cooperation also covers the development of private brands and joint marketing.
"The partnership is very important for Rautakesko. Cooperation will help us offer a wider selection of products with more affordable prices to the customers of our chains. Though Rautakesko is the fifth largest building and home improvement company in Europe and a major buyer even on its own, this new cooperation will further increase our purchasing efficiency, especially in the Far East sourcing," says Sakari Malka, Vice President of Rautakesko's Commerce.
Other partners of toomax-x are bauMax of Austria, REWE Group of Germany and Coop-Schweiz of Switzerland. The partnership of Rautakesko will make tooMax-x the third largest purchasing channel of home improvement products in Europe.
tooMax-x was founded by bauMax and REWE in 1999. Coop Schweiz became a partner in 2003. Rautakesko's partnership is subject to the necessary approvals by the authorities.
Further information: Sakari Malka, Vice President, Rautakesko Ltd, tel. +358 50 4327341 www.toomaxx.de
Rautakesko (www.rautakesko.com) is engaged in the building and home improvement trade through the K-rauta, Rautia, Byggmakker and Senukai retail chains. Rautakesko manages its chains, combines their purchasing power, arranges efficient logistics, acquires store sites and guarantees strong marketing and development support to the stores. Rautakesko operates in the Nordic and Baltic countries, Russia, and Belarus.
Kesko (www.kesko.fi) is a retail specialist whose stores offer quality to the daily lives of consumers. Kesko has about 2,000 stores engaged in chain operations in the Nordic and Baltic countries, Russia, and Belarus.
This announcement was originally distributed by Hugin. The issuer is solely responsible for the content of this announcement.
Kesko Oyj
http://www.kesko.fi
ISIN: FI0009007900
Stock Identifier: XHEL.KESAV
Rautakesko acquires an ownership interest in the tooMax-x Handels GmbH company, engaged in purchasing cooperation in home building and improvement products. Thanks to the expanding international purchasing cooperation, Rautakesko will be able to provide an increasingly comprehensive and competitively-priced selection of products for the customers of its store chains.
The basic purposes of tooMax-x include the development of the members' imports from the Far East, sourcing and quality assurance, and the management of other international purchasing projects related to home building and improvement. Cooperation also covers the development of private brands and joint marketing.
"The partnership is very important for Rautakesko. Cooperation will help us offer a wider selection of products with more affordable prices to the customers of our chains. Though Rautakesko is the fifth largest building and home improvement company in Europe and a major buyer even on its own, this new cooperation will further increase our purchasing efficiency, especially in the Far East sourcing," says Sakari Malka, Vice President of Rautakesko's Commerce.
Other partners of toomax-x are bauMax of Austria, REWE Group of Germany and Coop-Schweiz of Switzerland. The partnership of Rautakesko will make tooMax-x the third largest purchasing channel of home improvement products in Europe.
tooMax-x was founded by bauMax and REWE in 1999. Coop Schweiz became a partner in 2003. Rautakesko's partnership is subject to the necessary approvals by the authorities.
Further information: Sakari Malka, Vice President, Rautakesko Ltd, tel. +358 50 4327341 www.toomaxx.de
Rautakesko (www.rautakesko.com) is engaged in the building and home improvement trade through the K-rauta, Rautia, Byggmakker and Senukai retail chains. Rautakesko manages its chains, combines their purchasing power, arranges efficient logistics, acquires store sites and guarantees strong marketing and development support to the stores. Rautakesko operates in the Nordic and Baltic countries, Russia, and Belarus.
Kesko (www.kesko.fi) is a retail specialist whose stores offer quality to the daily lives of consumers. Kesko has about 2,000 stores engaged in chain operations in the Nordic and Baltic countries, Russia, and Belarus.
This announcement was originally distributed by Hugin. The issuer is solely responsible for the content of this announcement.
Kesko Oyj
http://www.kesko.fi
ISIN: FI0009007900
Stock Identifier: XHEL.KESAV
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