Grand Toys revamps operations
By Staff -- Playthings, 10/19/2006 6:08:00 PM
HONG KONG—Grand Toys International Ltd. is reorganizing its North American operations around its International Playthings Inc. subsidiary in a bid to digest a string of acquisitions and focus on the specialty toy market.
Under the plan, International Playthings, which Grand acquired in March 2005, will become the “hub” of its operations in the U.S. and its immediate neighbors, resulting in the merging of Grand’s Canadian operations into International Playthings’. Grand will also discontinue its distribution in the mass market in Canada.
Roger Bildstein, president of Grand Toys International Inc., will oversee the consolidation and continue to run Grand’s North American operations.
“This is the culmination of the integration process of our North American operations and is part of Grand’s ongoing efforts of reducing costs and minimizing risk in and effort to improve profitability,” says Jeff Hsieh, Grand’s CEO.
Since the summer of 2004, Grand has purchased four companies: International Playthings, toymaker Playwell International (August 2004), children’s book printing and assembly firm Hua Yang Holdings Co. Ltd. (December 2005) and party goods maker Kord Holdings Inc. (December 2005).
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