Joint venture will benefit from emerging Asian markets

Sterling and Fabory will each hold a 50% stake in the new company and intend to benefit from the fast growing demand for non-automotive fasteners in the emerging markets in South Asia. Sterling Fabory will act as the exclusive distributor and value added services provider of the Fabory product range in South Asia. The company's facilities are located at Faridabad, India and will be run by local staff. "The joint venture with Sterling provides us with an excellent partner to distribute our complimentary products and services to the fast growing Indian market," commented Oswald van den Belt, Fabory's CEO. "It also enables us to support our global customers who are significantly increasing their activity level in India and require the type of local support the joint venture will provide," he added. Sterling has the knowledge of operating and selling in India, and Fabory, which was founded in 1947, will make its knowledge of global sourcing and supply chain management available to the new company. With its head office in Tilburg, The Netherlands, Fabory offers more than 50,000 different fasteners, 10,000 industrial supplies, and 20,000 different tools.