HMM Moves into the Overseas Market01 May
HMM established an overseas subsidiary in Austria. This is the 4th subsidiary which HMM has opened this year, and with about 100 overseas subsidiaries around the world, the company has been continuously expanding its overseas network since 2007. After opening subsidiaries in Vietnam and Italy in July 2007, HMM opened further subsidiaries in St. Petersburg, and Dubai in March this year; this was followed by another opening in Sydney, Australia, in April. HMM is also expanding its business network to secure niche markets by operating branch offices under overseas subsidiaries in Prague and Budapest, and also in Melbourne and Brisbane.
The Austrian subsidiary will absorb East European goods, which are increasing annually by 15%, and will improve connections from central areas of Europe to reduce costs and to develop business with major local customers.
As ships are getting larger, and routes are becoming more diversified, HMM is seeking to achieve economies of scaleâ through transporting greater volumes of cargo. HMM will continue to reinforce its competitive power through investment in promising regions and by expanding its global network.
[ via Press Release HMM ]
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