Romanian company ABN Systems opens US subsidiary to expand Tellur sales, wants to enter Canadian and Mexican markets

Must Read

SeedBlink acquires Symbid, one of the world’s first investment crowdfunding platforms, in a European consolidation move

By rbj Speedlink, the European co-investment platform in tech startups, has announced it has completed the acquisition of Symbid, one...

Biofarm: innovation ambassador, during the first six months of the year, the Romanian company focused on launching new products in the CHC segment dedicated...

By rbj Biofarm (stock symbol BIO), one of the most important drug manufacturers in Romania, reports significant increases in the...

The Romanian firefighters are present in France to support the French forces who are fighting the climacteric flames

By rbj Two C-17 Globemaster III aircraft from the Multinational Strategic Transport Unit and a C-27J Spartan aircraft of the...

By rbj
ABN Systems International, a company on the telecom accessories and smart home products market in Romania, which owns the Tellur accessories brand, has opened a subsidiary in the USA, to expand its own brand sales.
“ABN Systems International, which owns the IT&C accessories and smart home products brand Tellur, has opened a US subsidiary to expand sales of its own brand, which has been selling in the country since the first half of 2021. By the end of this year, The company estimates that US sales of the Tellur brand could exceed those in Europe, “the company said.
ABN Systems International LLC is a North American subsidiary, wholly owned by ABN Systems International SA and registered in Houston, Texas, the second-largest U.S. Gross Domestic Product. respectively as an economic growth rate in 2021 (4.3%).
ABN Systems has a representative in Texas, certified according to US law, and by the end of the year, it could expand its team to support the growth rate of sales. In addition to increasing sales, the Texas-based company could serve as a base for access to other markets in the US neighborhood, including South America.
“The opening of a subsidiary in the US will support rapid growth in this market and attests to our commitment to expand as quickly as possible in foreign markets, after, in recent years, we have made significant investments in business infrastructure, acquiring know-how and flexibility, to adapt to the specifics of each of the nearly 30 countries where we have sales. We are ready to take advantage of the opportunities that are opening up for us in this booming market. The financing attracted by IPO will ensure the working capital necessary for the expansion, and through the results we will obtain and which will be reflected in the company’s turnover and profitability, we will reconfirm the confidence of our investors “, considers George Barbu, CEO of ABN Systems International.
All Tellur products are compatible with the electrical system used in the US and are already certified for this market, and in the top of the best-selling, in 2021, are the Bluetooth Vox 55 Headset, Callisto Portable Speaker, and Window and Door Sensor.
In addition to the intention to increase US sales, ABN Systems International is in the process of authorizing Tellur products in two major markets, India and Egypt. By the middle of this year, the company could enter the markets of Canada and Mexico.
On January 4, 2022, ABN Systems International concluded the first Initial Public Offering on the AeRO market of the Bucharest Stock Exchange, as a result of which it attracted 5.48 million lei (1.10 million euros), an amount that will be used for strengthening the position in foreign markets where it already records sales, as well as for accessing new markets. The anticipated capitalization of the company amounts to 99.09 million lei (20.03 million euros).
The Bucharest Stock Exchange (BVB) informs that on Monday, February 14, the shares of ABN Systems International will enter trading after the conclusion of the first initial public offering carried out on the AeRO market, the share segment of the Multilateral Trading System. The company’s shares will be traded under the ABN stock symbol.
ABN Systems International sold in the public offer, carried out between December 15, 2021 – January 4, 2022, a number of 1,059,434 shares at a price of 5.18 lei/share.
Founded in 2002, ABN Systems International, the owner of the Tellur brand and one of the leaders in the distribution market for IT&C products and accessories in Romania, offers integrated mobility solutions, IT and storage infrastructure, video surveillance systems, equipment, and industrial automation.
With a portfolio of over 30,000 IT&C products and accessories, ABN Systems is already present in markets in over 25 countries on 4 continents and aims to accelerate the expansion of external sales channels, both by entering new markets and by consolidating the current ones.

LEAVE A REPLY

Please enter your comment!
Please enter your name here

- Advertisement -
Latest News

SeedBlink acquires Symbid, one of the world’s first investment crowdfunding platforms, in a European consolidation move

By rbj Speedlink, the European co-investment platform in tech startups, has announced it has completed the acquisition of Symbid, one...

Biofarm: innovation ambassador, during the first six months of the year, the Romanian company focused on launching new products in the CHC segment dedicated...

By rbj Biofarm (stock symbol BIO), one of the most important drug manufacturers in Romania, reports significant increases in the first half of the year...

The Romanian firefighters are present in France to support the French forces who are fighting the climacteric flames

By rbj Two C-17 Globemaster III aircraft from the Multinational Strategic Transport Unit and a C-27J Spartan aircraft of the Romanian Air Force performed, on...

ROCA Industry announces that its subsidiary Bico Industries will take over the majority stake in the Lithuanian company SmartTech AG

By rbj ROCA Industry, the holding company that brings together the construction materials companies in the ROCA Investments portfolio, announces that its subsidiary Bico Industries...

Hungarians fear inflation, but also global recession. The opinion of the Central Bank of Budapest. Viktor Orban’s government expects inflation of 20% in 2022

By rbj Inflation could accelerate to around 20 percent in the coming months, said Barnabás Virág, vice president of Bank Magyar Nemzeti. According to the...
- Advertisement -

More Articles Like This

- Advertisement -