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Family firms look to world future (2)

By Yu Ran in Shanghai (China Daily)

08:15, January 08, 2013

More second generation Chinese family businesses will have to make a choice on whether they need to open overseas offices and warehouses in Europe, the US and some Asian countries to promote their products profitably. (China Daily Photo)

Branching overseas

"I thought about taking Yasi out of China as a Chinese brand instead of staying as a local equipment maker as soon as possible when I took over the management of the company," said Huang.

After being appointed manager of the company in 2006, Huang started expanding the global market to cooperate with international brands to enhance production technology and ensure the quality of products.

Yasi cooperated with FKI Group, a British engineering and manufacturing company, in 2006 to produce a series of innovative electrical equipment by applying the materials, design models and techniques recommended by FKI.

One year later, a brand strategy agreement was signed between Yasi and ABB Group, the global leader in power and automation technologies, with joint production on certain items under the ABB brand.

"The company successfully obtained a good global reputation by producing promising quality products after learning from well-known global brands under joint production agreements, which was a good start for us," said Huang.

He added that insisting on manufacturing high-quality items with updated innovative technology is the only way to stand out among the tough competition in the field of low voltage electrical appliances.

Nevertheless, Huang is not just concentrating on making electrical products like his father. He is also making investments with global partners in profitable projects as a side business.

Huang bought a mine in Guangxi Zhuang autonomous region in 2011 and launched a company with Omya Group, a Swiss global leading supplier of white minerals, to exploit and develop calcium carbonate-related products.

"I would like to work on those investment projects with global leading companies to learn how to create an international brand and make money from it at the same time," said Huang.

It is a common vision for the future of private-owned family businesses to take their products to the world by working with overseas business partners.

It is an advantage that most of the younger generations of entrepreneurs have a related overseas educational background or work experience. It enables them to know more about how to go about entering the global market.

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