August, 2000




Shriro Australia plans new Sydney Complex

Shriro Canada closes

Pryde expands wetsuit business

Shriro exits photo lab business


  

  Shriro Australia plans new Sydney Complex

At a recent meeting in Sydney, Australia Mike Westrup signed an agreement to purchase three blocks of land in Lane Cove, Sydney.

On the whole, though, we have had a moderately successful first half of 2001, but more importantly acquired a new business in Australia, and taken on some new agencies, details of which follow.

The intention is to erect an office/warehouse on the site with a total area of 6,570 square metres, which will house our Australian headquarters, and all the operations now conducted at Chatswood.

The new premises will give us extra space and a more efficient layout for both warehouse and offices.

The project will cost about A$9 million and will be ready for occupation in the second half of 2001.

Mike Westrup said "this project represents a big vote of confidence in Shriro's operation in Australia and the new building will considerably enhance our ability to serve our customers."


 

 Shriro Canada closes

Indru Jagtiani, the Managing Director, announced the closure of Shriro (Canada) Ltd following the decision by Aiwa to establish their own distribution operation in Canada.

He said "Shriro has been operating in Canada for nearly 50 years when it was started by Abe Ulaine.

I think that it was the oldest surviving Aiwa independent distributor in the world and the decision by Aiwa to take over the distribution was very sad.

I want to take the opportunity to thank our many loyal customers and our long serving staff and wish all of them good fortune in the future."


 

 Pryde expands wetsuit business

Neil Pryde announced the acquisition of Omareef Thailand from Quicksilver, the internationally renowned sports apparel provider.

Omareef is situated in Chiang Mai, Thailand and Neil Pryde has agreed with Quicksilver to continue to produce their quality surf suits.

Neil Pryde has moved quickly to expand the capacity of the factory by installing additional flat-lock sewing machines and a computer sewing machine.

Wet suits are a flourishing part of the Neil Pryde product portfolio and this new acquisition will facilitate our growth.


 

 Shriro exits photo lab business

David Wilson has just announced the sale of Shriro's two Photo Lab businesses, Ivey Seright International, Inc in Seattle and ShriroLab in Tokyo.

The Photobition Group, the largest photo imaging business in the world, has bought both operations.

David Wilson said, "Shriro were pioneers in the imaging business in Japan and ShriroLab has an excellent reputation in this field.

But it has been apparent for some time that if the business was to prosper it needed more investment and a greater degree of specialist focus that only a group such as Photobition can provide.

I am very pleased that all of our ShriroLab people have decided to join the new company, Photobition Japan KK Ltd that acquired the business on 1st July 2000."

Earlier in June we sold Ivey Seright to Photobition.

Ivey Seright has been a consistently profitable business for Shriro but prospective changes in the management of the company and the need for more capital investment prompted our decision to divest this business.


 

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