Foxconn Technology will continue a major push into the UK market after one of its subsidiarys acquired 20% of recycling specialist Bamboo Distribution.
The Taiwanese company currently manufacture mobile products for companies such as Apple and Blackberry and have revealed ambitions to expand into Europe, where it claims there is huge growth opportunity.
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The components manufacturer has said that it is looking to become involved in the refurbishment, distribution and recycling of mobile phones, taking advantage of Bamboo’s expertise to do so. Bamboo are a mobile distributor that offer end to end services, specialising in mobile recycling and providing life cycle services.
The announcement follows on from a strategic alliance formed between the two companies earlier this year which boosted Bamboo’s distribution capabilities across the UK and Europe, enabling Foxconn to strengthen its position in the region.
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Paul Chou, VP of Foxconn, explained that this new partnership will now see the company move to gain a stronger foothold in the Europe. He said: ‘Bamboo Distribution offered us the ideal gateway to the European market, the company was a natural fit.
‘It was clear from our discussions that the company’s customers have complete confidence in Bamboo Distribution’s services and its operations contain the capacity required to take advantage of the growth predicted in the sector. Our investment will enable us to gain a strong foothold in Europe through an established provider that is well respected in the industry.’