Metro builds up its Asian presence

The leading German commerce multinational Metro will make important new investments in Asia. With a presence in China since a few years back, Metro will now establish its cash and carry hypermarkets also in Japan, Vietnam and India.

Like many other leading commerce multinationals Metro believes in the Asian markets. Japan, Vietnam and India are the next targets for the cash and carry wholesaler.

This year, Metro's turnover in China will reach about 500 million USD. The company expects that, with the planned expansion, these figures will be almost doubled in 2002.

Metro counts on establishing itself alone in Vietnam and India. In Japan, where the company is already looking for suitable sites for its markets, the operation will be run by a joint venture with Marubeni.

At a press information in Stuttgart Germany yesterday, Metro chairman Hans-Joachim Körber said that the company does not intend to sell its do-it-yourself chain Praktiker or the supermarket company Extra. Both chains have been doing less well than the other parts of Metro AG.