LYRECO ACQUIRES MINORITY STAKE IN SPEED SEND
June 2007 - Two years ago, LYRECO and SPEED SEND decided to join forces in a sales partnership in order to serve LYRECO's international customers in Egypt.
After these years of successful partnership, LYRECO is proud to announce that it has just entered SPEED SEND's capital with a minority position.
SPEED SEND's CEO, Mohamed Hussein, declared: "We are of course extremely pleased with Lyreco acquiring shares in Speed Send. We are a young company, having only been established six years ago. Our team has expended a huge amount of effort for our company to reach where it is today, and we are very proud of this. Furthermore, with this acquisition, we are now poised to gain even greater market share by offering our clients, both current and potential, an even wider range of products and cutting-edge services".
This acquisition will bring many mutual benefits to both companies. SPEED SEND will add to its many existing competitive advantages in the Egyptian market by benefiting from LYRECO’s extensive experience and know-how of the international office supplies market. Through this share acquisition, LYRECO will enter the Egyptian market, which is currently undergoing massive expansion as Egypt’s economy goes through a period of robust growth.
"I am obviously very happy about the two companies coming closer together; since the first time we came across Speed Send we saw a lot of similarities and a great future for both companies indeed", stated LYRECO's CEO, Eric Bigeard. He added: "Nevertheless, Lyreco keeps its focus on developing Europe, Canada and Asia-Pacific, Speed Send on its side may eventually develop the Middle East after securing their leading position on the Egyptian market."
PRESS RELEASE, JULY 2006 - SPEEDSEND ENTERS NEW MARKET SEGMENT
|SPEEDSEND has now entered a new market segment in
Egypt and is now offering its services to small and medium enterprises (SMEs). In order to more
effectively cater to these companies, SPEEDSEND has issued its first offline product catalog. The
catalog contains a varied range of office and IT supplies selected specifically to meet the needs
of these companies.
This move comes as part of SPEEDSEND’s
continuing efforts to offer innovative services both to existing and new clients.
PRESS RELEASE, JULY 2006 - LYRECO'S 4TH INTERNATIONAL PARTNER
LYRECO has recently added a fourth international partner: Office Product Depot, which operates in New Zealand. The company is composed of a group of independent office supply
distributors throughout New Zealand whose annual revenue is approximately 50 million Euros.
|SPEEDSEND is an international strategic partner of LYRECO, one of the largest international
suppliers of office products across 28 countries. LYRECO has three other international
partners in addition to SPEEDSEND: Staples in the United States, Pragmatic Express in
Russia, and Waltons which operates in African countries.
This latest development strengthens the international network to which SPEEDSEND belongs. Furthermore, it adds further standing to our company since this global network now operates
in every continent except South America.
PRESS RELEASE, NOVEMBER 2005 - LYRECO GLOBAL ALLIANCE
2005 has been a busy year for LYRECO; new subsidiary was launched in Korea and a major European player has been acquired in Europe (Büro Fürrer in Switzerland).
Nevertheless LYRECO keeps its focus on customer's needs and satisfaction. LYRECO has indeed recently strengthened its worldwide coverage with a new strategic alliance with #1 BtoB distributor of office supplies in Egypt: SPEEDSEND.
|LYRECO is pleased to announce that SPEEDSEND has joined its world's most comprehensive office supply distribution network.
SPEEDSEND Managing Director, Mr Mohamed Hussein, got in touch with LYRECO more than a year ago. Since then the two companies started to better know each other and appreciate their work and achievement.
Mohamed stated: "SPEEDSEND is happy with the partnership agreement that it signed with LYRECO. We consider it a major milestone for our young company. We believe that there is a shared opportunity here for both our companies, and we are delighted at the opportunity to grow and improve our distribution business and learn from a global player such as LYRECO".
LYRECO's CEO Mr Eric Bigeard said: "It may appear as a surprise that LYRECO just welcome an Egyptian company into our worldwide sale alliance. Although North Africa is not a region of the world that we are targeting, we have decided to bet on people. SPEEDSEND's management is made of young, dynamic yet promising individuals that we are happy to witness developing and potentially help them from time to time. They have a "LYRECO kind of spirit", which makes it easy for me to agree on this alliance".
For the first time ever, LYRECO and its alliance partners are able to provide a truly effective global solution that meets company's overall procurement objectives, while recognising the unique requirements of domestic and overseas locations on five continents.
LYRECO is present in Canada, Ireland, the United Kingdom, France, Spain, Belgium, Luxembourg, the Netherlands, Italy, Germany, Switzerland, Denmark, Norway, Sweden, Poland, Australia, Hong Kong, Taiwan, Japan, Thailand and Korea.
STAPLES covers the USA market.
PRAGMATIC EXPRESS covers Moscow, Russia.
SPEEDSEND has distribution centres in Cairo, Egypt.