Huoban guanxi or partnership

REV Ritter GmbH of Mömbris (Lower Franconia), one of Germany’s biggest manufacturers of electrical fittings and materials, has concluded a strategic partnership with Cixi Import & Export Corporation, a Chinese trading enterprise. The Chinese partner company, which generates annual sales in excess of one billion euros, is taking a 27 per cent stake in REV. Conversely there are also plans to establish an “REV China” joint venture for this coming autumn. The idea is that this company will then bundle all procurement activities in the Chinese market in the future. To recap: REV took over the business activities of Düwi GmbH, its biggest competitor at the time, in November 2009. The REV Group employs a workforce of around 500 throughout Europe and achieves sales in excess of € 100 mio.