ISS has now taken a big step to expand its business
in China. ISS has acquired the majority of the shares in Hongrun, the largest
private cleaning company in China, and will in the future expand its China
operations through this joint venture.
Hongrun was established in 1998 and
quickly became one of the leaders in cleaning services. The new company, ISS
Hongrun, already operates in 70 cities spread across 15 out of China's 22
provinces, and employs more than 7.000 people.
"China is a very exciting
market. Not only due to the size of the market, but particularly because of the
current growth rates and a booming service economy, says Regional Director
Martin Gaarn Thomsen, ISS' responsible for operations in Asia. "We aim for
annual average growth rates around 30 percent and to expand the number of
employees with 50.000-100.000 people over the coming years, he adds.
The
joint venture came into effect on 1 April 2005.