Furuno Establishes Italian Subsidiary

Furuno Electronic Co., Ltd. announced a new subsidiary in Italy has been established on November 8, 2013 and will commence its business operation from January 1, 2014 onward. In Italy, Arimar S.p.A. has hitherto been handling the marketing and sales activities as well as technical service provision as Furuno’s national distributor. The new subsidiary, Furuno Italy S.r.l. (FIT) will be Furuno’s wholly-owned subsidiary company in Italy whose main task is to further enhance the sales activities as well as technical service provision scheme in the local market, which is viewed as one of the most important geographical locations with remarkable market potential in Europe.

Not only does Italy have one of the largest shipping communities in the world, in terms of ship registration, but it is also one of the world’s leading shipbuilding as well as operating nations for cruise ships, in particular. What is more, Italy has the largest shipbuilding industry in the world in terms of mega yachts, making it one of the most important markets for recreational marine segment of the industry alongside with France and Monaco.

FIT will, within the framework of Furuno’s network of worldwide distribution and service organization, cooperate with Furuno head office and subsidiary companies around the globe to further solidify its activities in a wider global framework. Also, FIT will be acting as one of the central organs of Furuno’s network of distribution and service organization for all-embracing marine market segments for the Mediterranean area, in close collaboration with Furuno France S.A.S. and Furuno España S.A. It is strongly believed that, with the establishment of FIT, Furuno will be able to further solidify and rationalize its operation, hence earning further confidence from the global maritime industry as a whole.

Company Name: Furuno Italy S.r.l.
Location: Genoa, Italy
Representative Director: Didier Bureau
Capital Stock: € 5 million
Description of Business: Distribution of Furuno products and parts as well as provision of the technical service and support
Account Closing Month: December
Business’ Commencement Date: January 1, 2014
Capital Structure and Contribution Ratio: 100% owned by the following two wholly-owned subsidiaries of Furuno (Furuno Europe B.V. 95% and Furuno France S.A.S. 5%)