When Oboya Horticulture Industries Sweden announced its failure on August 16 , 2021 , the company was meet with heap of questions and uncertainties from customers , allege Robert Wu , Founder and Chairman of Oboya . “ In the last 15 calendar month Oboya has gone through an inordinately tumultuous period , but we are move on and not sitting still . ” In this article , Wu explains what happened concern Oboya Horticulture Sweden , and what Oboya ’s future looks like . The road to bankruptcyAccording to Wu , the main intellect Oboya Horticulture Sweden had to utilise for failure is the many acquisitions they have done over the eld . “ I commence the job in 2006 , producing prime arm , and the business was develop quite smoothly and tight . In 2014 , I wanted to put the company to the stock marketplace , so we get down it enlisted and it became a public fellowship . Ever since we were making a turn of acquisitions , corrupt companies in Denmark , Poland , Vietnam and many more . Yet most of these acquisition did n’t really sour out well , as they cost a bunch and we were struggling with integrations . As a result , we never really reaped the benefits of our acquisitions . We had year of conflict and losses , particularly in the European operations . For our Swedish companies we lost C of millions of Swedish poll , and we realized we could n’t continue this way . And then the pandemic add together even more challenge to that with the high merchant vessels costs and expensive new materials . We decided to apply our three Swedish companies for bankruptcy , and we sell our companies in Vietnam , Norway and one in Poland . We have been sputter for so long to endeavor to last , it just was n’t feasible anymore . ”Focusing on the Chinese operationsWu explains that there has been much doubt about the possible fade of Oboya , but that the Taiwanese party will go along their operation without any impact of the Swedish bankruptcy . “ On August 23 , 2021 , a share buying concord was signed and 100 % of Oboya Horticulture Industries Hong Kong Ltd and all of its subsidiary company in China was transferred . This means that we have now privatized the Chinese entities , instead of it being a publicly swap troupe . “ The Chinese operations have always been doing well and we are service customers and partners in more than 60 body politic , which will continue . However , our company is take a step back . ““We will now be focus more on our manufacturing cognitive operation or else of lucubrate , thus being a focussed manufacture companionship in flower sleeve , flowpack , vegetable promotion , trolleys , and more . I have the experience now that acquisitions hold a lot of risk . Therefore , we will now be focusing on improving the production and capacity , and business will stay on as usual . ” Wu explains that the Taiwanese companies being privately owned is also much more price efficient , and they are now able-bodied to have a more longsighted - term vision and focus on their hereafter while reflecting on their past . For more information : Oboya Horticulture Industries Hong Kong LtdRobert Wu[email protected]www.oboya.ccwww.horti.cn
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